I would like to limit the amount of cards I have now that I have broken into the "prime cards"( i think). Here is what I have from oldest to newest. I had older cards from 2001-2003 but they are closed.
Orchard Bank $1300 cli opened July 2004
cap1 $500 Oct 2006
Amex $ no set spendin June2007
cap1 $ 2000k Apr 2008
US Air Junny $1500 Apr 2008
Wells Fargo $7000 May2008
Now Orchard has been my longest account open but its not one that grows. So would you sock draw it or cancel. Also anyone have any experience with Cap1 combining cards. Thank You.
De Oppresso Liber
Starting Score: 690 Current Score: 747 Goal Score: 750
Just takes a phone call to combine your cap1 cards. Its easy. For the Orchard, try to get the AF waived....and keep it. It has a decent limit for an Orchard. The drawback is that you will have to call back every year around annual fee time and try to get it waived. They should do it to keep you. If they don't, kick em to the curb.
FICO's: TU: 682 EX: 688 EQ: Unknown
In my wallet (strikethough are getting the axe soon): Amex Rewards Plus Gold | BECU: 10,000 | AlaskaUSA FCU: 6,900 | Citi Forward 6,500 | BOA Travel Rewards: 5,000 | US Bank Cash+: 5,000 | Merrick: 4,200 | Chase Freedom: 3,500 | Juniper: 3,100 | Household: 2,450 | Best Buy Reward Zone: 2,000 | Cap1: 1,500 | Cap1: 750 | Bailey's Furniture: 3,100 | Lowes: 4,500 | Care Credit: 2,000 | Zales: 1,400 | Kohls: 400 | Sam's: 5,200 | Walmart: 1,100 | Discover More: 1,000
Keep Orchard even with a fee - for now. I would threaten to close the account. They have been known to double the credit limit if you ask to close it due to credit limit. This usually does the trick for CLI with Orchard/HSBC. If they decline, don't get huffy. I would close the account prior to applying for a Citi or Chase product.
As far as Cap1, I would reallocate and close the older of the 2 cards. Cap1 has tiered products and it appears that the older one may be a Beginners card and the newest of the two is perhaps an Above Average card or Excellent credit rating card.