Credit Cards

[psychic]

Every now and then, forum members PM me asking me why I canceled a particular card that had a fairly high credit limit.  I've canceled a few cards for various reasons.  What are some of the cards that you've canceled, and what were the cards' credit limits?

Some that I've canceled--

Capital One--$9000 CL  (I just didn't like Capital One)

Sears Gold MC--$12,300 CL  (I only used the card once or twice)

First USA MC--$16,500 CL  (I was angry with First USA)

Citi Visa--$11,350 CL  (I was angry with Citibank)

Message Edited by psychic on 03-11-2008 02:06 PM

[cheddar]

Oh, to be in a position where I could cancel almost $28K in CLs because I'm angry with the creditors!

In answer to your question....I've never cancelled a card.  That will change soon.

[concorduser]

Did you cancel all the card once or at different times? What is the time in between the closing the cards? Did you get other cards to replace these cards you have canclled?

[chiwiseguy]

The only card I have ever cancelled is the now infamous, $500 CL, $95 AF HSBC card, that refused to give me as CLI, days after I received my AMEX with a $8,300 CL. 

[krystofur]

I'm sure some here will see those CL's and say, WTH?! 

For ourselves, DW included, we closed:

Target MC, $5000 CL (We never shopped there.  Yeah, I know, it wasn't the store card!)

BoA MC, $12000 CL (We were "cleaning house", it's since been reopened)

Chase, $5000 CL (Same house cleaning purge)

We (I) regretted the house cleaning we (I) did and are (am) back into building the CL's up.  The Chase card was has been replaced with another Chase card with a $7000 CL, so we made out okay there.  The Target card was replaced with another BoA card with a $3300 CL, so we lost some ground there.  Almost a wash.

[psychic]

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concorduser wrote:

Did you cancel all the card once or at different times? What is the time in between the closing the cards? Did you get other cards to replace these cards you have canclled?

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These cards were canceled at different times, spread out over a number of years.  I didn't replace any of these cards, because my existing cards' credit limits were high enough that I didn't need to seek additional credit. 

[orl2185]

I've cancelled over 16k in a couple of cards from wamu, juniper... hooters also, that one was reopened recently. My newset score were after I cancelled those TLs

Op, super great scores there btw...

[concorduser]

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psychic wrote:

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concorduser wrote:

Did you cancel all the card once or at different times? What is the time in between the closing the cards? Did you get other cards to replace these cards you have canclled?

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These cards were canceled at different times, spread out over a number of years.  I didn't replace any of these cards, because my existing cards' credit limits were high enough that I didn't need to seek additional credit. 

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Wow. If you dont mind me asking, what is your current total CL?

[psychic]

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concorduser wrote:

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psychic wrote:

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concorduser wrote:

Did you cancel all the card once or at different times? What is the time in between the closing the cards? Did you get other cards to replace these cards you have canclled?

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These cards were canceled at different times, spread out over a number of years.  I didn't replace any of these cards, because my existing cards' credit limits were high enough that I didn't need to seek additional credit. 

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Wow. If you dont mind me asking, what is your current total CL?

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$138,250

[concorduser]

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psychic wrote:

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concorduser wrote:

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psychic wrote:

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concorduser wrote:

Did you cancel all the card once or at different times? What is the time in between the closing the cards? Did you get other cards to replace these cards you have canclled?

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These cards were canceled at different times, spread out over a number of years.  I didn't replace any of these cards, because my existing cards' credit limits were high enough that I didn't need to seek additional credit. 

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Wow. If you dont mind me asking, what is your current total CL?

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$138,250

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How about you keep 100K CL and give the Balance CL to me? Just joking. May I ask how many cards do you this amout spread across? Do you have any one card that is over $50k?