Should I close my Merrick and Credit One cards

[slambo]

Filed BK along with foreclosure in 12/10

transunion per Credit karma is 674/   per Credit One score is 699

cards :

Cap One CL $2250/  balance $486  opened 03/11

Cap One   CL $500/   $72  opened 06/11

Credit One  CL $650/ $163  opened 08/11

Merrick   CL $950 /$0  opened 02/11

Barclay CL $2000/ $376 opened 11/13

Install ent loan   CL $2950/ balance 881 payoff in April

I am paying an AF on both the Merrick and Credit One cards.  Would it be wise to close them or is it too soon?

also which is the best site to get accurate credit scores from?

Thanks for your help

[gdale6]

I would not close them till you get your utilization in order, you have too many cards reporting a balance. You also want to make sure the Credit 1 is paid off prior to closing as well, the main impact from closing is in the utilization category you will lose the avail credit from the 2 cards. Other than this cancel them I dont like paying AF's either.

Barclays should give you a  free monthly FICO score based on TU, I dont have their card so dont know how to sign up. For an EX monthly FICO you can apply and qualify for a FNBO card and for EQ DCU credit union. You can also buy them here on my fico though I beleive they are using the older FICO 98 on this site,

[slambo]

thanks for your help

[abzze]

When is the next AF due to apply?

[SunriseEarth]

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@slambo wrote:

Filed BK along with foreclosure in 12/10

transunion per Credit karma is 674/   per Credit One score is 699

cards :

Cap One CL $2250/  balance $486  opened 03/11

Cap One   CL $500/   $72  opened 06/11

Credit One  CL $650/ $163  opened 08/11

Merrick   CL $950 /$0  opened 02/11

Barclay CL $2000/ $376 opened 11/13

Install ent loan   CL $2950/ balance 881 payoff in April

I am paying an AF on both the Merrick and Credit One cards.  Would it be wise to close them or is it too soon?

also which is the best site to get accurate credit scores from?

Thanks for your help

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CreditOne can be a costly CC.  With no grace period on charges (interest accrues once charges post!), the monthly AF, and CLIs for fees, they're an expense that I plan on ridding myself of in March.   They're certainly a better rebuilder CC than FP, but they still cost and should be closed once you've outgrown them.  

Call CreditOne and tell them you are considering closing your CC because you don't like the AF; they will likely come back with an offer to waive the AF for 6 months (some got a 3 month offer).  Many of use with CreditOne CCs were able to do this successfully.  I plan on closing my CreditOne CC before the waiver runs out (March statement).  

As for Merrick, you might want to call to see if you can get better terms.  My Merrick CC doesn't have an AF.  

If you are worried about the offset to your UTIL, I'd recommend seeing if you can get CLIs on your CapOne CCs.  If the LUV button isn't successful, try contacting the EO.  

[slambo]

good info