So...
I'm rebuilding my credit. Three months ago, I was discharged from bankruptcy. Included some credit cards with small balances just because I had to and a few hundred thousand in medical bills.
Immediately upon discharge, I had a little app spree. Got USAA secured, 5/3 bank secured, kohls, and a couple of sct store cards, one that we will actually use, and one that I won't.
Was declined for us bank, BOA, discover, and Barclays. Oh, I also bought a car because I needed one.
Income is right at $110,000, job time is going on five years.
All these new things have been reporting for three months now. My two secured cards won't ever graduate. This is something I know for sure.
This morning, I came out of the garden and applied again for discover. This time, I got approved. Knowing that this one will graduate and grow, I'm not planning to app for anything again until the one year post discharge mark.
I plan to keep the USAA secured card and hopefully get an unsecured card from them at the one year mark. The other one from 5/3 I am contemplating closing that one and just taking that $500 and increasing the discover. It seems that will be a better use of the money.
I plan to buy a house once in two years out, so I'd rather close these secured cards that won't ever graduate sooner, rather than waiting for them to age.
Other than a small hit for closing the account, I do t see any issues with closing that one and just increasing the discover limit.
I also kinda want to close the comenity account from express. I used it for a pair of socks, but will probably never use it again. Victoria secret and kohls are both cards that get usage so they're maybe worth keeping.
I just don't want to mess up my progress.
MyFICO membership is auto billed to the USAA card, abcmouse.com is auto billed to the 5/3 card for $7.95 a month. I would just need to change that.
I'm rebuilding my credit. Three months ago, I was discharged from bankruptcy. Included some credit cards with small balances just because I had to and a few hundred thousand in medical bills.
Immediately upon discharge, I had a little app spree. Got USAA secured, 5/3 bank secured, kohls, and a couple of sct store cards, one that we will actually use, and one that I won't.
Was declined for us bank, BOA, discover, and Barclays. Oh, I also bought a car because I needed one.
Income is right at $110,000, job time is going on five years.
All these new things have been reporting for three months now. My two secured cards won't ever graduate. This is something I know for sure.
This morning, I came out of the garden and applied again for discover. This time, I got approved. Knowing that this one will graduate and grow, I'm not planning to app for anything again until the one year post discharge mark.
I plan to keep the USAA secured card and hopefully get an unsecured card from them at the one year mark. The other one from 5/3 I am contemplating closing that one and just taking that $500 and increasing the discover. It seems that will be a better use of the money.
I plan to buy a house once in two years out, so I'd rather close these secured cards that won't ever graduate sooner, rather than waiting for them to age.
Other than a small hit for closing the account, I do t see any issues with closing that one and just increasing the discover limit.
I also kinda want to close the comenity account from express. I used it for a pair of socks, but will probably never use it again. Victoria secret and kohls are both cards that get usage so they're maybe worth keeping.
I just don't want to mess up my progress.
MyFICO membership is auto billed to the USAA card, abcmouse.com is auto billed to the 5/3 card for $7.95 a month. I would just need to change that.
Doing good so far, I would not close anything till it reaches post 1 year for Fico purposes but yeah if you are not going to use then best to close. Your approach of not apping for anything more till after 1 year post discharge is good. Good luck to your continued success 
