Trimming the accounts, Think 5 at the same time will hurt?

[Anonymous]

My wife and I just got a Amex Delta and Chase Marriot cards, so I am closing accounts that are not needed. So far today I have closed J Crew, Fingerhut, and plan on closing Applied Bank, Credit One, and maybe my Victoria Secret account.  Think its too many at once? I have no balances on any of them, and the new cards will cover the credit lines.

[Anonymous]

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@Anonymous wrote:

My wife and I just got a Amex Delta and Chase Marriot cards, so I am closing accounts that are not needed. So far today I have closed J Crew, Fingerhut, and plan on closing Applied Bank, Credit One, and maybe my Victoria Secret account.  Think its too many at once? I have no balances on any of them, and the new cards will cover the credit lines.

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You'll be fine.  You have plenty of other cards to keep you going and have utilization covered.

[Anonymous]

Yes, close those last 3 accounts since you state they are not needed, won't affect your overall utilization, and the ones you mention are subprime and store cards anyway. I'm always an advocate of not keeping store cards!

[baller4life]

Close away. No worries. Only affect is closing cards raises total utilization if you have balance on other cards. But since you say new cards covers the ones you are closing, go right ahead. WTG closing those rebuilders! You've moved on!

[baller4life]

Haha we all posted at same time....GREAT minds lol

[takeshi74]

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@Anonymous wrote:

Think 5 at the same time will hurt?

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It's not really about X at the same time.  Consider the info in the Closing Credit Cards thread linked in the Helpful Threads sticky along with your specific considerations.  Don't put score as a top priority.  Your overall financial health and needs matter more.  Despite what seems to be the tendency arond here, one does not need to hoard credi for good credit.

[Anonymous]

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@baller4life wrote:
Haha we all posted at same time....GREAT minds lol

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+1 baller4, ha ha

[ScoreOrBeScored]

I'm too scared to close that many at once. I'm doing some closures and they shall be complete by December 2016

im closing 1 card per month. Lol ... Just be, I'm crazy like that. Lol

if you ask why, it's because I want to get all 24 Green "OK" on those accounts.

[Anonymous]

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@Anonymous wrote:

My wife and I just got a Amex Delta and Chase Marriot cards, so I am closing accounts that are not needed. So far today I have closed J Crew, Fingerhut, and plan on closing Applied Bank, Credit One, and maybe my Victoria Secret account.  Think its too many at once? I have no balances on any of them, and the new cards will cover the credit lines.

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I always ask myself if I need the card before applying. For accounts that I do not use often (or less than 100 a month), I try to close it to keep my wallet thin (and login password managable for my brain). 

[Anonymous]

I agree, most of these were gotten just to rebuild. I am going to much more selective now that I can be.