Kicking Comenity and Synchrony to the Curb

[tim1017]

Kicked Express, Brylan, Buckle, and Walmart to the curb today.  Closed all four of these.   These along with 5 other cards were opened in Nov. Been thinking about kicking the amazon store card as well (Aug of '14) because I can't seem to get a CLI form them to save my life, $400 limit :/   Closures should help slightly with AAoA right?  

Gotta say it felt pretty good to thin my wallet form these non-used cards.

[TRC_WA]

No they won't help with AAoA.

Assuming you have a good history with the accounts 10 years from now when they stop reporting they will actually drop your AAoA.  For now there is no effect from closing the accounts.

Grats on closing the accounts... toy limit store cards are a sin.  I'd have probably kept them open for a year though because you already took the hit for the new accounts.

[Anonymous]

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@tim1017 wrote:

Kicked Express, Brylan, Buckle, and Walmart to the curb today.  Closed all four of these.   These along with 5 other cards were opened in Nov. Been thinking about kicking the amazon store card as well (Aug of '14) because I can't seem to get a CLI form them to save my life, $400 limit :/   Closures should help slightly with AAoA right?  

Gotta say it felt pretty good to thin my wallet form these non-used cards.

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Liike I said in your other post, you are walking on eggshells here --- You were approved for toy limits but you could have been a littlle more patient re your requests for CLIs. Grow them and in time, you will see bigger CLs.

Opening and closing your accounts in haste is doing you no favors for your credit file. And no, your AAoA is not going to improve just because you were mad and closed all your accounts.

You might sit, pause, take a breather and think about what you're doing before tarnishing your CR reports even further.

[Kathy4NU]

Patience might get you somewhere.  Invest in some.

I had commedity with toy limits too.  18 months later they are all sitting at $2,000.  My Sam's Club started at $400.  I almost declined because it was such an insult.  It is at $4750 now.  Not such an insult anymore.  I haven't seen the increases I would like with my Amazon store card but I continue to use it and PIF each month knowing it will grow in time.    Time is on my side.  I have no intentions of closing my Commodity cards.  I use each one once every 6 month to keep them active, hit the luv button every few months.  They will help my AAoA in time and the high limits and no balance helps my utiization. 

Take up a hobby other than watching your credit and good things will happen.  (Speaking from experience here).

[jamesdwi]

Credit is a marathon, I stared with a single CapOne card, added Commentity cards and GE/Syncrony cards

My 5x Commenity cards are about 3-5 years old now each has grown to around 3k limits each despite starting at or around $600 CL. 

GE Amazon started at 600, currently at $5000. about 5 years old

Walmart started at $800, currently at 4500 about 5 years old

SamsClub store card started at $800, currently at 10,000 MC
Lowes Card started at $800, currently at 10,000. 
Paypal started at $800, currently at $6000.  


They can make a solid base to start growing with, and helps bullet proof your AAoA, These days I apply for a card or two and my AAoA goes down by about a month, then starts growing again 

[TRC_WA]

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@jamesdwi wrote:

Credit is a marathon, I stared with a single CapOne card, added Commentity cards and GE/Syncrony card.


They can make a solid base to start growing with, and helps bullet proof your AAoA, These days I apply for a card or two and my AAoA goes down by about a month, then starts growing again 

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I did the same... CapOne.. then a few GE cards that I kept for a year (Chevon, 76, Walmart) and closed in December when I got in with Discover, AmEx and Sallie Mae.

When I say toy limit store cards are a sin I'm talking about a wallet full of $250 Target and Pep Boys cards.   Sure they are great for starting a profile but as you get in the door with major bank cards you are better off getting rid of the store cards... which is what I did.

I have Best Buy ($3500) and Nordstrom ($2500) as well as Care Credit ($7500... is this a store card?) ... and that's the extent of my store card portfolio.  Both Best Buy and Nordstrom can convert to MC/VISA and the limits are nice which is the only reason I have them.

I see no point in opening up a Macy's credit card... they'll take my major CC's every day of the week and I don't need the store card to help my profile.

[tim1017]

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When I say toy limit store cards are a sin I'm talking about a wallet full of $250 Target and Pep Boys cards.   Sure they are great for starting a profile but as you get in the door with major bank cards you are better off getting rid of the store cards... which is what I did.

I have NFCU, Barclays, and 2 cap one cards.  I kept Victorias Secret because the wife likes to shop there, and Care Credit.  The others I just did not use and don't see the benefit of having them even if I had major limits.  I use Amazon so I'm keeping it.  Growing all those for sure.

[Scupra]

You opened 9 cards six months ago and then close 4 of them because you can't raise the limits? From the sounds of it you haven't even hit your sixth statement.. Comenity likes to see 9 months of statements before CLi, not a hard rule I know.. You have to see the problem here

[divine6771]

My Walmart card has become one of my best cards.  I started with a $500 limit in June 2013, recently my limit doubled from $4,000 to $8,000.  But I just brought a new house a year ago and I use this card for everything.  I certainly agree that it takes patience.