thinking about closing some cards

[ChistineNJ]

with all my recent apps/approvals and cli. I need advice, i think i want to close some accounts mainly my rebuilder accounts but i dont know if its a good move or not

i have 2 cap 1 accts cli  QS1650 and plat 1000 these accounts were opened right after my bk and the QS 6months later.

cu partially secured i dont think the limit will ever increase its a HP and its will only be 100 right now the limit is 800 <-- no brainer i can get my $ back and throw it in my savings

Express hardly ever really do major shopping there i just started getting increases. 

Jcrew never used the card not even once obtained in doing the SCT

barclays rewards i just got a cli this weekend i really wanted to toss this one but since they did a HP i might as well keep it 

so do you guys think its a good idea to toss 2 capital one TL ? they are 2years and 1 1/2 years old i have the venture now to replace them with.

[OmarGB9]

I would close the store cards you don't use and maybe the cap1 platinum since that's a ho-hum no rewards card.

[Anonymous]

definitely bye bye platinum and i would PC that rewards card into a sallie mae (if possible idk)

[Anonymous]

also, what other cards do you have

[Anonymous]

Are any of the cards your oldest account?

[Anonymous]

Close the secured card and keep the rest. Buy something at J Crew, a couple of blouses a pair of shoes or jeans and pay it off in 2 months. Try for a cli monthly to help with utilization.

Keeo the Quicksilver for the 1.5% cash back. Use it on groceries and misc store purchases. The limit will go up over time if you use it.

Keep Express for utilization purposes. Buy something periodically. 

How old is Wal Mart? Every 4 months do a cli request via chat. Ask for $3000 next time. Use the card 1 time a month and have a small balance when going for the cli.

[kdm31091]

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@Anonymous wrote:
definitely bye bye platinum and i would PC that rewards card into a sallie mae (if possible idk)

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Cannot be done, as far as I know. Sallie Mae can't be PC'd into or out of anything else because it's cobranded...the only exception is I think you can PC it to/from Upromise but why you'd want to is anyone's guess as by most accounts Upromise is a weak card.

OP, the store cards, IMO are not important to keep just for the sake of keeping. If you do not get meaningful use out of them, close them. The limits will never grow to what a "real" card can grow to, and they're only useful at one store, so if that one store no longer fits your spend, ditch it.

Keep the QS, obviously. The Platinum is unnecessary.

[jamesdwi]

Close the secured card, if you can use the money. 

Close any cards with an AF that you can't justify or get waived. CapOne will generally waive the AF after the first year. 

Keep the store cards open, they will help long term with AAoA, There is no harm in having 3 or 4 store cards that are 3 years old, make a small purchase every 6 months to a year, or just keep the card open wait till the lender closes the card for non-use. 

put a small recuring payment on the CapOne card, netflix or skype. Let the card age. If it doesn't grow after a couple years contact the EO and they will help it grow. If nothing else it helps your AAoA. 

[Anonymous]

lol everyone is saying different stuff...

[SunriseEarth]

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@Anonymous wrote:
lol everyone is saying different stuff...

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Everyone has a different opinion on SD vs closing, store cards vs bank cards, and all sort of other things.   I think that's why it's good to seek a variety of opinions.   Credit isn't a one size fits all.   I'm not too surprised we're all saying different things.