Which cards to close?

[Mrm-na]

Amazon store card - doesn't sound like you need this.

Walmart - I'd wait until the scores from Barclay (and maybe Discover) become a reality and you're sure that you're happy with what they're giving you.  Once you know for certain that you have no use for the WalMart, then close it.  But I can be a bit overcautious, it's probably fine to just close it now.  This is the easiest one to suggest closing.

I'd hold on to the CapOne just due to the large credit limit, regardless of anything else.

Chase - I'd be inclined to hold it, but if you decide to give up on them, you might call them up to explain the situation before you pull the trigger. Maybe they'll satisfy you with a higher limit, but if not, so be it.

[Kenny]

If you just have to: Amazon store card & wal-mart card.

[Gunnar419]

You guys are great! I know why so many people always say they're impressed by the helpfulness and collective wisdom of MyFico.

I was looking at my choices emotionally, but you made me see them more practically, in terms of real needs and uses instead of feeling clingy about certain cards

Walmart Discover will go, and I think I'll take the advice about waiting until Barclays or Discover is giving free FICOs. After that I'll ask Chase for a big CLI and an APR reduction. If I get them, I'll keep the Amazon Visa. If I don't, I'll probably close that one and keep the store card. If I do, I'll keep the Chase and dump the store card.

I'll probably wait a couple months before I call Chase. I want to have a solid year in the garden and let my inquiries all go past the one year mark before asking for anything.

[Gunnar419]

Just an update and another thanks for all your help.

Your advice -- plus the fantastic new signup bonus on Chase Freedom -- decided my course of action and changed my planned timing.

I've cancelled the Walmart Discover. You guys helped me see that as a clear choice.

I apped for the Chase Freedom. Got it with a $6k CL, then closed the Chase Amazon and moved it's CL to the Freedom.

I'll probably be closing the Amazon storecard soon, too.

With Chase, I figured if I was going to have to accept an HP just to have a hope of getting an unknown amount CLI on their Amazon card, I'd get more bang for my HP and get a card I'd use more by apping for the Freedom. With luck I'll even have a better APR, since my score is higher than when I got the Chase Amazon card.

Thank you all again!

[FutureBillionaire]

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@09Lexie wrote:
All your util is on Discover but closing Cap 1 will raise your total util.

If you are going to close two, I say ax the Wal/Discover and Amazon Card .You are getting better terms on your reg Discover . The Amazon Card is only worth keeping if you do tons of shopping on Amazon.

If the Amex isn't working for you, I'd PC it to another card but I think it can work well with your SallieMae.

Edit Visa s/b store card

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I agree with Lexie.  These cards make sense based on AAoA and credit limits. 

[Startome]

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@Gunnar419 wrote:

Just an update and another thanks for all your help.

Your advice -- plus the fantastic new signup bonus on Chase Freedom -- decided my course of action and changed my planned timing.

I've cancelled the Walmart Discover. You guys helped me see that as a clear choice.

I apped for the Chase Freedom. Got it with a $6k CL, then closed the Chase Amazon and moved it's CL to the Freedom.

I'll probably be closing the Amazon storecard soon, too.

With Chase, I figured if I was going to have to accept an HP just to have a hope of getting an unknown amount CLI on their Amazon card, I'd get more bang for my HP and get a card I'd use more by apping for the Freedom. With luck I'll even have a better APR, since my score is higher than when I got the Chase Amazon card.

Thank you all again!

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Nice! Isn't DiscoverIt already offering their FICO now too?

[Gunnar419]

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@Startome wrote:

Nice! Isn't DiscoverIt already offering their FICO now too?

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Yes, isn't that great? I'll be getting my first Discover FICO on my statement later this month.

I just wish (as a lot of others have said) that Walmart, Barclay, and Discover weren't all offering the very same TU FICO.

I hope Amex or Chase soon start offering EX FICOs and somebody offers EQ.

Heck, with CapOne doing all those triple pulls, I think they should offer free triple FICOS, LOL!

[myjourney]

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@Gunnar419 wrote:

Just an update and another thanks for all your help.

Your advice -- plus the fantastic new signup bonus on Chase Freedom -- decided my course of action and changed my planned timing.

I've cancelled the Walmart Discover. You guys helped me see that as a clear choice.

I apped for the Chase Freedom. Got it with a $6k CL, then closed the Chase Amazon and moved it's CL to the Freedom.

I'll probably be closing the Amazon storecard soon, too.

With Chase, I figured if I was going to have to accept an HP just to have a hope of getting an unknown amount CLI on their Amazon card, I'd get more bang for my HP and get a card I'd use more by apping for the Freedom. With luck I'll even have a better APR, since my score is higher than when I got the Chase Amazon card.

Thank you all again!

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Congrats good moves IMHO

[compassion101]

If you have to chop two I'd axe the walmart and the amazon.

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@Gunnar419 wrote:

I have seven credit cards. I'd rather have just five.

Now I know a lot of you here juggle far more cards than that. I also know that the conventional wisdom is that  you don't close cards unless they have AFs and none of mine do. Nevertheless, I want to close two of my seven. I'm going to do it. I'm just not sure which ones and I'd like the help of wise MyFicoers.

Here are the cards. Which should I close and WHY?

THESE TWO I'M ABSOLUTELY KEEPING.

They are my go-to cards because of their rewards and low interest rates and my long happy relationship with Discover.

Discover IT, CL $11,000 (20 years)

Barclay Sallie Mae MC, CL $2,400 (9 months)

THESE FIVE ARE UP FOR GRABS.

CapitalOne VentureOne, CL $10,000 (1 year)

Pro: Whopping big CL; occasional BT checks with great terms

Con: I don't have much need for a travel card and don't use its regular benefits to the max

Chase Amazon Visa, CL $1,700 (4 years)

Pro: Constantly getting BT checks with great terms; prime card and one of my oldest

Con: No CLI ever; I have better Amazon and gas cards, can't get much use out of those great BTs with such a low CL

Amazon store card, CL $4,000 (1 year)

Pro: Zero percent financing on large Amazon purchases; great GE CLIs

Con: Not much use other than those two pros; I mostly buy only small stuff from Amazon

Walmart Discover, CL $2,650 (1 year)

Pro: TU FICO (except I'll soon get that from Sallie Mae); GE luv

Con: No perks, really no use for it

Amex BCE, CL $4,500 (9 months)

Pro: OMG, it's Amex! Also potential for 3x CLIs (though I don't make enough money to go very high)

Con: It's a gas/groceries card and Sallie Mae is better for me; I rarely use it except when they have an appealing offer

You see, until I discovered MyFico, I had only two cards, and that's about all I ever needed or wanted. The rest have all been a result of the eeeeeevil temptations you guys have dragged me into. Some are good, but I feel burdened by seven; help me slash the weight!

Current util is about 12 percent, all on Discover, just in case anybody's thinking about what closing these would do to my util.

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