Toy cards: Keep or close? Please advise!

[Anonymous]

hello my fico,

when i started my credit repair journey, the only credit i could get were toy cards.  i still have the following:

orchard bank.  $200

capital one secured $300

capital one steps program $750

bofa secured $300

first National Credit Card $550

finger hut charge $350

walmart $800

the only prime card i have is an american express green that has been backdated to 97.  my question is whether or not to keep the above credit cards.  the top four cards on the list were open 1.5 years ago with zero balance currently.  i'm thinking of keeping the bofa secured, with the hopes to one day make it unsecured.  should i get rid of orchard, c1 secured and first national?  My 3 fako's are betweeb 620-630, and my real fico is 660.  i have one outstanding collections that is in dispute for $1700.  thank you my fico!

Please advise.

[JustMe77]

I would keep First National. I don't consider that to be a subprime card. My SO's First National card limit has increased a lot since he first opened it and it's his lowest interest rate (something ridiculously low like 6%). I would also keep Wal-Mart for the FICO score, and BoA secured because you can play with the limit. Would close Orchard, both Capital One cards, and Fingerhut.

What's your utilization like on the non-Amex cards?

[Anonymous]

hi justme.

i must clarify, the card i have is first national credit card.  not first national bank.  the website is www.firstnationalcc.com.  my apr is 29.99%, and the annual fee is $75.  now, since i dont use it, i don't mind paying the annual fee if it helps with my aaoa.  should i still keep it?

[Brusilov]

What's the limit on the Amex?  What of the cards you listed have AFs?

[Anonymous]

the amex is no preset limit.

all my cards have annual fees.

[Brusilov]

I think I probably agree with the other poster then.  Probably keep the Walmart for FICO, BoA because it may graduate, and possibly the CapOne @ $750.

[aggieguy]

My vote:

Keep: Amex, Bank of America Secured, CapitalOne $750, Walmart

Axe: Orchard, CapitalOne Secured, First National CC, Fingerhut

I'm in a similar situation. I have a bunch of toy cards that are getting axed in favor of Amex Zync and Discover. If I were you I'd cut those cards listed, work on cleaning up the collection, garden for 6 months to a year to give these other cards some age, then set my sights on another better card to replace the CapitalOne.

[namvet]

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@aggieguy wrote:

My vote:

Keep: Amex, Bank of America Secured, CapitalOne $750, Walmart

Axe: Orchard, CapitalOne Secured, First National CC, Fingerhut

I'm in a similar situation. I have a bunch of toy cards that are getting axed in favor of Amex Zync and Discover. If I were you I'd cut those cards listed, work on cleaning up the collection, garden for 6 months to a year to give these other cards some age, then set my sights on another better card to replace the CapitalOne.

 +1

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[Crashem]

Walmart, bofa (could graduate). I would be getting rid of any else with annual fee. Remember close cards will help your aaoa for 10 years. Main reason you don't really need to worry is that Amex backdating will continue to help. Get another Amex if aaoa goes down

[tinuviel]

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@namvet wrote:

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@aggieguy wrote:

My vote:

Keep: Amex, Bank of America Secured, CapitalOne $750, Walmart

Axe: Orchard, CapitalOne Secured, First National CC, Fingerhut

I'm in a similar situation. I have a bunch of toy cards that are getting axed in favor of Amex Zync and Discover. If I were you I'd cut those cards listed, work on cleaning up the collection, garden for 6 months to a year to give these other cards some age, then set my sights on another better card to replace the CapitalOne.

 +1

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I like this plan, too.