I have exactly 2 years this month since i started building credit. I had NOTHING before that I have 4 cc's in total.
My first credit account is a joint account with a friend with a retail store. He did it to help me out to start off my credit file.
His history is impecabble and the retail store gave us ( rather him ) a nice credit limit. It was a HUGE jump from 0 credit.
my second card is a capital one with a CL of 500$ and has been stuck there over a year.
My third card is AMEX Green. I chose this one over the gold .I was glad I was able to clinch on the AMEX offer. My friend and paid the retail store
fairly quickly and I alwas PIF my cap 1, however i carry a small balance from time to time now since ive given up on it.
My 4th card is a GEMB Banana Republic with a CL of 4,7000.
1st account ( oct 2009 ) , cap1 ( may 2010 ) , amex (sept 2010) , gemb oct 2010
In those 2 years, the mistakes I made in my credit profile was doing too many inquiries. I also had used the GEMB card extensively
and i wasnt aware of the damage that reporting a card almost maxed out would do when it came too applying to other companies.
I was still new ( and still am ) to mantaining a healthy credit report. But I learned and took care of that problem.
To get to the point, I really, REALLY want to drop Capital One , but im afraid because its really is my FIRST cc. First one is joint. Also because
it's my second oldest account ( 1y 6m ). I dont know what it would do to my credit score if i dropped them. If i could do , Id want to do it before
the account gets any older.
I have a couple of offers from Chase and Discover. However the too many inquiries haunts my history accross all 3 bureaus, so ive chosen not to apply
but im itching to do it just to get rid of cap 1. I believe I have 12 in the past 2 years with 2 dropping this month and possibly 4 in total by the end of this year.
Am i taking chances with that number of inquiries? Can you guys recommend any other companies besides Chase and Discover.
I dont want any retail cards. Im done with those for now.
I would go to my local CU but Im on chexsystems because of an overdraft. I did pay off the debt. the debt NEVER got reported to any bereau.
my eq fico score is 702. possibly higher now because of the cli and lowering my utilization.
Starting Score: TU-691 EQ-681 EX-693