help me manage my credit card :(

[Anonymous]

Hello, I am currently 25 a student with Five credit cards, and credit score of 695 ish

2012

Citi student forward - 2012 $500 -> $1300 last night 

2015

Wells Fargo $800 - 2015

AmazonStore $800 -2015 (Never used it even once, want to cancel it ?)

2016

Chase Sapphire was not instantly approved, waiting to hear from mail.

Amex everyday $1000  Instant approve

Amex gold  (cancelled right away, I meant to open PRG) Instant approved / Cancelled within 10 minutes calling CS

Amex PRG approved instantly.

So right now I have 5 credit card, kinda want to cancel the citi forward for being such a terrible reward, since its a student card, and amazon card for crazy high APR of 25%

I never even used a penny from Amazon yet. 

I also have been tempted to opening Citi Thank you Premier, but just 2 days ago I already was approved for Three Amex cards even though I cancelled one. Would it be best if I stop applying for credit cards now?

If not 

I am interested in stacking a lot of reward point as possible, would it be smarter to just use Amex card and stack points on Amex ? or would it be okay to spread out my points to Citi  Thank you premier ?

[Creditplz]

I suggest you don't close any accounts just yet, try leaving them in the sock cabinet, simply because of AAoA, also if you have them at 0 and use your other cards heavily it will help you maintain a lower UTL
About applying for new cards, i feel like you should just sit on the cards you have and CLI them, if you really feel the necessity to open a new account anywhere wait 6 months, treat your cards right and you'll be golden!

Just from my prospective it's what would help you.

[Anonymous]

Suggest you don't cancel Amazon.  Request $25k CLI through chat or call Credit Solutions (Synchrony Bank) instead.  They will counter with something less which will help your uti.  It is possible they will deny your request , but since it's SP no harm in trying.  GL!

[Mattopotamus]

If you have a card with no annual fee, just let it sit in the sock drawer like others said.  It is doing no harm being there and will help with your ultilization.  Everyday the card is open it will increase your AAoA

[Anonymous]

Last Synchrony CLI I tried resulted in a HP just fyi. It was via the automated line.

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@Anonymous wrote:

Suggest you don't cancel Amazon.  Request $25k CLI through chat or call Credit Solutions (Synchrony Bank) instead.  They will counter with something less which will help your uti.  It is possible they will deny your request , but since it's SP no harm in trying.  GL!

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[Anonymous]

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@Mattopotamus wrote:

If you have a card with no annual fee, just let it sit in the sock drawer like others said.  It is doing no harm being there and will help with your ultilization.  Everyday the card is open it will increase your AAoA

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Even if closed, AAoA will increase for 10 years even if card is closed

[Mattopotamus]

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@Anonymous wrote:

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@Mattopotamus wrote:

If you have a card with no annual fee, just let it sit in the sock drawer like others said.  It is doing no harm being there and will help with your ultilization.  Everyday the card is open it will increase your AAoA

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Even if closed, AAoA will increase for 10 years even if card is closed

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True, but each day it is open adds to the AAoA.

[msbia]

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@Anonymous wrote:

Last Synchrony CLI I tried resulted in a HP just fyi. It was via the automated line.

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@Anonymous wrote:

Suggest you don't cancel Amazon.  Request $25k CLI through chat or call Credit Solutions (Synchrony Bank) instead.  They will counter with something less which will help your uti.  It is possible they will deny your request , but since it's SP no harm in trying.  GL!

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I was not aware of Synchrony having an automated line, Comenity does. Synchrony CLI can be through the love button, chat or calling Credit Solutions and I have never had a HP requesting one. I have Lowe's, Amazon and Paypal SC, along with Sam's Club and Mastercard and Ebates Visa.

OP if you don't think you will use your Amazon card...ever...then go ahead and close it. It will not affect your AAOA for ten years. However, please see Pizza's thread about closing Synch cards and really weigh whether or not you will use it, or just put a small charge on it, pay it and let it sit another six months. 

[Anonymous]

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@Anonymous wrote:

I am interested in stacking a lot of reward point as possible, would it be smarter to just use Amex card and stack points on Amex ? or would it be okay to spread out my points to Citi  Thank you premier ?

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If you were talking cash back cards, it wouldn't matter too much if the rewards were spread around. But you're talking UR (Chase-CSP), MR (Amex-ED/PRG), TYP (Citi-TYPremier). For those kinds, yes, in my opinion it matters and it doesn't make sense to spread them around. I'd recommend figuring out what you might do with the points and then concentrate on that program. You have both the Amex, you don't have the Citi, and you may or may not have the CSP, so yes - I'd say stack points on Amex IF your plan for redemtion is a fit with MRs. 

[djshifted]

If you PIF each month, the Amazon store card is really good if you have or will have Prime (which I think is discounted for students still) since you get 5% back for all amazon purchases.