closing cards?

[afbar1114]

I might leave store cards open and close cap1 when i get csp or something else. Is having to many cards bad and for some reason i see my "magic number" as five cards. Zync, 123 card, freedom, filler, and kohls

[Wolf3]

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@afbar1114 wrote:
I might leave store cards open and close cap1 when i get csp or something else. Is having to many cards bad and for some reason i see my "magic number" as five cards. Zync, 123 card, freedom, filler, and kohls

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FIve is a fairly low number of cards.   There is usally not an issue with having a lot of cards as long as you can manage them.  

[TATATA]

IMHO, I would only close them if you are no longer going to use them AND have an annual fee. If there is no fees involved, why close it?? Unless, you start accumulating several accounts, thus, having "too much available credit" and are being denied because of it, then you should close the accounts that no longer interest/benefit you. Good luck! 

[AndySoCal]

Why are you thinking of closing accounts ?

[afbar1114]

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@AndySoCal wrote:

Why are you thinking of closing accounts ?

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i think one bank said i had to much credit and if i get rid of some maybe ill get better CLI's. i plan on closing HD as i no longer need it and they offer nothing for me and jared as well. i also plan on closing CAP1's as i am getting prime cards now that will grow. i plan on closing HD when its paid off and then closing cap1's when i get CLI's and my last prime card such as freedom. i plan on apping for freedom to get the CB offer and once i get i will work down towards my magic number of 5 cards. i dont see me getting CSP or BCP anytime soon. i may get a discover or even a barclays at some point insted at which ill have 6. i am leaning more towards discover then anything. as to cover all my areas with cards. 

[Smug]

If I ever plan to use them I close them, I closed 7 last year.

[afbar1114]

Ill close like 4-5 within the next 6-18 months