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Established Contributor
kroberts67
Posts: 815
Registered: ‎03-04-2013
0

Re: credit checked while gardening! WAAAH!!! x(


gen-specific wrote:

nice. 

 

yeah I guess me too, I won't officially come out till late August early September. The plan then is to increase limits, do a backdoor limit transfer, and close all my cards with 4-digit credit limits.


Hi...  can I ask a question about closing cards?  Do you just not need the UT, or are you closing because of annual fees?  just curious why close cards instead of leaving them sit open to help with UT if nothing else. 



FICO: EQ 727 | TU 724 | EX 718
SFFCU Visa $11.3k + LOC $5k, USAA Amex $6k, USAA MC $7k, Amex BCE $4.5k, Cap1 $1k, Freedom $5k, Slate $3.2k, Barclays SM $5k.

My Credit Repair Journey
Frequent Contributor
gen-specific
Posts: 284
Registered: ‎02-27-2013
0

Re: credit checked while gardening! WAAAH!!! x(

 


kroberts67 wrote:

gen-specific wrote:

nice. 

 

yeah I guess me too, I won't officially come out till late August early September. The plan then is to increase limits, do a backdoor limit transfer, and close all my cards with 4-digit credit limits.


Hi...  can I ask a question about closing cards?  Do you just not need the UT, or are you closing because of annual fees?  just curious why close cards instead of leaving them sit open to help with UT if nothing else. 

 

 

 

I don't need the utilization ratio, or the age of those cards, as they would all be very young cards

 

they are basically credit institutions with a very low risk appetite, compared to other institutions

 

having too many open accounts is a negative thing to some future lenders and a FICO score, having too many accounts with balances is a negative thing to some lenders and a FICO score, so where possible it makes sense to decrease lines via selection and keep only the older, larger and more high quality lines like Chase Sapphire Preferred.

 

 

 

Citi Thank You Premier 60k, AMEX Blue 30k, Chase Sapphire Preferred 30k, BoA VISA Rewards 30k, Wells Fargo 30k, Barclays Arrival+ 20k, Citibank Custom Credit Line 12k, Macys/AMEX 2.5k/500

EFX 711, EXP 713, TU 713 - AVG 701 GOOD - May 2014
EFX ???, EXP ???, TU 764 - AVG 764 GOOD - Aug 2014
Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
0

Re: credit checked while gardening! WAAAH!!! x(


09Lexie wrote:
I'm not popping out if the garden until Sept. I'm scuurred. Lol

 

Haha!!! You scuurred Lexie?  ROFLAMO!!!!


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014

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