to close cc or not ?

[gtjohn]

hey ya'll thanks for the advice,  will my scores tank when my bt's hit the bofa card

thanx

[gtjohn]

oh by the way now af on union card,  also should i request a cli on my wells fargo to drop my overall util

thanx

[gtjohn]

If i get cli from wells fargo and it is more than the 1500 cl union card i want to close, my overall util %should be even lower as long as it is more than 1500   right, thus resulting in points goin up.

does this sound right to ya'll

thanx

[haulingthescoreup]

---

@gtjohn wrote:

oh by the way now af on union card, also should i request a cli on my wells fargo to drop my overall util

thanx

---

If I'm reading this right, there's no AF on the union card, right? $1500 is a lot of available credit to blow off for no particular reason. I'd stick it in the sock drawer, and maybe put a tank of gas on it once a month or so. Pay it off as soon as it posts so you don't have to worry about keeping track of it.

It's one thing to boot one of the stink-o $300 CL cards, but I don't think that I'd write off $1500 so quickly. If you ever had a problem where you paid another card before the statement date, but it didn't get credited quickly enough and so it posted a balance, having that unused $1500 available credit would help cushion any blow to your overall util.

[gtjohn]

True however if i get a cli on wells fargo up to about 10,000 that will keep my overall util% down right

wells fargo   7,200cl       0 bal

union card    1,500cl      0 bal

bofa             20,000cl   10,000 bal

thanx ya'll

[haulingthescoreup]

---

@gtjohn wrote:

True however if i get a cli on wells fargo up to about 10,000 that will keep my overall util% down right

wells fargo 7,200cl 0 bal

union card 1,500cl 0 bal

bofa 20,000cl 10,000 bal

thanx ya'll

---

That's true, but I think that there's a lot to be said for having three cards, each from different issuers. You just never know what stunt the CCC's might pull.

Here's one possibility: hang on the the HSBC card until you're ready to go for the next good card. Once you've got it (with a nice CL!), then go ahead and close it, if you're still just bound and determined to do so.

[gtjohn]

Hey there haulin  maybe i am confused here however but it makes sense to me if i increase the cl for wells fargo my util will remain the same, also isn't it better to have 2 cc's vs 3 cc's.

super thanx 4 ur help

[gtjohn]

Oh and another thing that is frightning is that i think i am becoming a ficoholic

lol

[gtjohn]

since 8-31-07  my scores have bumped approx 70 pts,  this forum rocks you folks are awsome

woo hoo

[haulingthescoreup]

Woo-hoo! No, there's no penalty at all in having 3 cards instead of two. In fact, you might get spanked a little for only having two.

I don't go ape on cards like a bunch of others here, but certainly having only 3 cards makes you a very conservative consumer in this day and age. The typical number is more like 5 or 6.

Don't know if you read the snarky little comments about FICO High Achievers on your FICO score reports (on the second screens), but here's a collection of them, and you can see that even the most stick-in-the-mud high achievers have more than two accounts:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=12673