Established Member
chexxie
Posts: 23
Registered: ‎02-05-2010
Re: Too many cards - which one to close?

scenery_guy wrote:

sqrt wrote:

LostTime wrote:

sqrt wrote:

LostTime wrote:

I dont know if it makes sense to close your two highest limit cards (33% of your total credit) with the hope that you will be able to replace them with cards of like limits. You will risk killing your util with the hopes of getting a lower rate?

 

Also considering that you plan a big purchase, what happens if you cant get the rates you want or cant get another card. Now you have to still make your large purchase, but you have given away 33% of your limits.


Well, close the card is not equal to lose CL. 

I want to transfer CL of UA to freedom, also CL of Delta to SPG.


If your concern is that your limits are toohigh, how will that help you? youd have the same limits just on different cards. But in any event, this is better than closing the cards and losing the limits


Well - I will have less cards in wallet, less cards to concern "which one to use". 

I just hate that you have to use the card every 6 month to keep it open. (not sure about this)


Why not set up an auto pay for a monthly expense? Auto insurance, cable, land line or cell phone, internet... we all have a bunch of expenses like this, you could put one on each card, set up auto pay in full and sock drawer them for a year. Monthly use and no thought on your part. 


 

Regarding the using every 6 months, I don't know if it's just the types of cards but I haven't had any of them closed due to 6 months (or even 12+ months) of inactivity.

I have 4 CCs: #1 - I primamily use. #2 - I haven't used since 2011. #3 - I used for the first time last week since 2011, & #4 - I haven't used since early 2012.

 

I like scenery_guy's auto pay (use) & auto repay idea. Pretty sure I'll be doing that since I am now positively paranoid.

 

testMy FICO: EQ 787 - 01/14 | TU 782 - 9/13 | EX ??? - ?/?
Garden Club: App-free since 7/12