thinking of closing 2 credit lines

[darkfrosty]

I really dont want many cards open even though i have like 6 personal and 1 business. I have a discover IT with a 9500 CL and an amex blue with a 15k line that I am mostly likely going to close. I dont like having too much available credit unless i need it. I know this impact my credit score since my utilization will increase since my overall credit will drop like 23k but oh well.

[NRB525]

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@darkfrosty wrote:

I really dont want many cards open even though i have like 6 personal and 1 business. I have a discover IT with a 9500 CL and an amex blue with a 15k line that I am mostly likely going to close. I dont like having too much available credit unless i need it. I know this impact my credit score since my utilization will increase since my overall credit will drop like 23k but oh well.

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Wow, ok, so you want to step away from AMEX and Discover, two of the banks that try hardest to win CC business, and go all in with Chase and Citi?

Good luck with that.

[darkfrosty]

I have two cards with amex .. I'm closing the blue and keeping the everyday preferred .. i only got discover for a 0% transfer .. it is done and i have no use for discover. I have chase, amex and nfcu .. citi will be closed before the fee is due and i plan on getting an amex plat again .. either personal or business

[NRB525]

Ok, that's a little more complex scenario.

What are your MyFICO scores?

[Anonymous]

NO!! 

Don't do it! 

[B335is]

Can you transfer the Amex limit to another card? 9500 is a solid limit for Discover, but i can also see wanting to close unuseful cards.

[darkfrosty]

i don't think it has been 13 months yet to transfer the cl for amex.

My fido scores currently range from 780 to 744 because of utilization .. normally they are over 800

[kdm31091]

I'm of the opinion that if you don't/won't use them, close it. Try and get a CLI on some of the cards you are keeping; this will offset any negative util effects.

But there's no point in keeping something you don't need, in my view it's just "clutter".