Re: Say goodbye to Optima and Cap One?

severine · ‎08-19-2012

I have a question regarding dumping low CL cards. My FICO score is ~748 and I currently have the following cards:

Amex Optima (oasis) 2/06 1k

Capitol One "platinum" hahahaha 3/09 1k

Citi Preferred Visa 9/11 10k

BoA Cash Rewards 10/11 5k

Discover 5/12 9k

Bank Visa card 6/12 10k

Chase Freedom 8/12 5k

Chase Sapphire 8/12 5k

Do you think it's a wise move to kill the Optima and the CapOne cards? They have the lowest CLs but I have had them the longest. I am particularly annoyed by the CapOne card bc it has an AF and such ridiculous CS. Should I instead try for a PC on the Optima? I do PiF every month and at any one time only have 3/8 that have small balances on them. Eight CCs seems like too many to me--thoughts?

iMacDrew · ‎08-19-2012

Id dump the Cap one and try for a pc or just apply for a new amex card with the optima. Since you can backdate and all.

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703

CribDuchess · ‎08-19-2012

Axe the capital one - you don't need it. My understanding is that you won't be able to pc the Optima Oasis to a different Amex card. You basically have to close the Optima and then apply for a new Amex. Probably worth the effort considering the backdating benefit.

Congrats on your other cards!

FICOs: TU08 842 EQ08 850 EX08 850

My Wallet: Amex Gold NPSL; Amex Optima Platinum $25K; Amex BCE $12K; Apple Card $20K; BofA Travel Rewards Visa Sig $67.6K; Cap1 Quicksilver Visa Sig $10K; CSP $28.2K; Chase Freedom $13K; Chase Freedom Unlimited $21.4K; Citi Costco Visa $19.3K; Citi Double Cash $13.5K; Citi Simplicity Visa $23.3K; Discover IT $50K; Fidelity Visa $25K; NFCU Flagship Visa Sig $40K; NFCU More Rewards Amex $30K; PenFed Plat Rewards Visa Sig $50K; Sears MC $10.1K; US Bank Altitude Go Visa Sig $20K; US Bank Cash+ Visa Sig $26K; Wells Fargo Rewards Visa Sig $14K

severine · ‎08-19-2012

Thanks for your advice, guys. I'm definitely going to pay off the CapOne (~300 balance) at the end of the month and be done with it. I only really like it for the "no foreign transaction fee", but now the Sapphire should have that covered...

Crashem · ‎08-19-2012

Need to figure out how to get another Amex. Backdating will be great for you. Mixed up as to procedure for Amex and optima. Pc or cancel and apply or just apply. I forget.

Capital One 1.5% MC/HSBC 15kto20k 8/7/13

LIMITS IN CARD DESCRIPTIONS

LS2982 · ‎08-19-2012

I'd be axing Cap1 and talking to the AMEX exec. office about a PC or apping straight up for a AMEX.

EQ FICO 548 3/3/16

HenryJumbo · ‎08-19-2012

While you're at it why not pick between Freedom and Sapphire. If you keep the Sapphire the Discover (assuming it's a More card) is similar to Freedom.

	Starting Score: EX: 736 FAKO \| TU: 757 FICO \| EQ 730 FICO Current Score: EX: 736 FAKO \| TU: 750 FICO \| EQ 730 FICO Goal Score: EX: 750 FICO \| TU: 750 FICO \| EQ: 750 FICO
	In my wallet: $16,000 $8,000

severine · ‎08-19-2012

@henryjumbo Thanks for the recommendation, I'm going to look in to comparing the Discover and the Chase Freedom.

JusdoNit · ‎08-19-2012

New Amex

Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800
If your outGo is more than your INcome than your UpKeep will become your downFALL.

Take the FICO Fitness Challenge

bettercreditguy1 · ‎08-19-2012

You could try for any major credit card. If you want to close a card, close your lowest high limit card you have.

Updated scores 3/7/21 TU 849, EQ 829, Ex 818 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience

Update: Say goodbye to Optima and Cap One?

Update: Say goodbye to Optima and Cap One?