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if i cancel a credit card?

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chalupaman
Super Contributor

Re: if i cancel a credit card?

Give it more time. Once you start getting much better cards, then you can start thinking about closing it.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down
Message 11 of 15
scorewatcher7
Valued Member

Re: if i cancel a credit card?

depends on utilization of your credit line for the most part. I'd leave it until your file grows a bit.

Message 12 of 15
Anonymous
Not applicable

Re: if i cancel a credit card?

I plan on doing the same with Walmart and Amazon the minute I get something similar to both.  Sallie Mae has 5% on Amazon, and 5% on Groceries.  That would kill two birds with one stone.  Care Credit I think is a keeper because it's WAY more useful than I thought it would be.  Despite it's overall lack of benefits, the 0% on medical expenses is a big help. 

Message 13 of 15
Anonymous
Not applicable

Re: if i cancel a credit card?

i actually just got approved for sallie mae (well barclay but its pretty much trhesame lol) im def closing it out now😃u should try barclay very recon friendly
Message 14 of 15
Anonymous
Not applicable

Re: if i cancel a credit card?

I plan on it eventually but I have to get a car and a few bills paid down first. Plus I kinda want to try my luck with the Apple Rewards Visa first since I need to replace my old MacBook Pro.
Message 15 of 15
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