Credit Cards

[xchap]

Direct Merchant CC for $1800.  24.99% should i cancel them? ask for lower apr and an CLI? 4 years old

Juniper CC   $500. 27.74%                     """                           ?    "                                    ? 3 years old

OrchardBank  $1800. 18.90%                """                          ?     ""                                  ? 4 yrs old

 they are all $ 0 balance

i have now   addison 10k  5.24%              2k  balance        1 month old

                   mcu  14k 9.15%                   11k  balance       1 month old

                   BOA  13k  15.99%                0 balance            1 years old

                   carecredit  13K                      0 balance           5 years old

                   amex blue  $2200  17.99%     0 balance            2 years old

                   union plus  $2600  20.99%     0 balance            2 years old

                  chase(was circuit city card)  4k  17.99%    0 balance    3 years old

Message Edited by xchap on 09-04-2009 03:07 PM

Message Edited by xchap on 09-10-2009 05:20 PM

[txjohn]

You failed to mention how old the higher CL and prime CCC's are.

If your builder cards are substantially older (by 2 years or more) than the other accounts, then I would suggest keeping 1 or 2 that had no AF.  The rates really mean nothing unless you carry a balance.  But you will want the extra 2 years age down the road.  If you close, those TL's are gone in 10 years (or less sometimes) and that dings the AAoA and oldest account age factors.

[smallfry]

Keep all the cards and always PIF. You never know how long closed accounts stay on your reports. 

[FaircreditguyFL]

Orchard -close

Direct Merchant - close

Barclay/ Juniper - close

I'm not a big proponent of closing cards; however, rebuilders need to be cut loose at sometime point in time.  Perhaps cut then loose after 4 years... if not now.