topic Re: Card approvals - OK to close one or 2? in Credit Cards

Card approvals - OK to close one or 2?

Anonymous — Fri, 17 Apr 2015 15:25:12 GMT

So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL

Citi Premier - no approval at first but called in and they approved right away for 5.6K CL

Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification

Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!

Re: Card approvals - OK to close one or 2?

jamesdwi — Fri, 17 Apr 2015 15:29:53 GMT

@Anonymous wrote:
So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL
Citi Premier - no approval at first but called in and they approved right away for 5.6K CL
Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification
Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!

you have taken the hit, the HP and new TL will show on your report your AAoA will be effected, closing the cards will only change card status will change to closed. it will look back under manual review, that you opened cards only to close them within a month.

Re: Card approvals - OK to close one or 2?

Anonymous — Fri, 17 Apr 2015 15:37:53 GMT

@jamesdwi wrote:
@Anonymous wrote:
So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL
Citi Premier - no approval at first but called in and they approved right away for 5.6K CL
Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification
Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!
you have taken the hit, the HP and new TL will show on your report your AAoA will be effected, closing the cards will only change card status will change to closed. it will look back under manual review, that you opened cards only to close them within a month.

So best to leave as is? Rack up points on all 4 cards and then sock drawer 2?

Re: Card approvals - OK to close one or 2?

jamesdwi — Fri, 17 Apr 2015 15:41:22 GMT

@Anonymous wrote:
@jamesdwi wrote:
@Anonymous wrote:
So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL
Citi Premier - no approval at first but called in and they approved right away for 5.6K CL
Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification
Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!
you have taken the hit, the HP and new TL will show on your report your AAoA will be effected, closing the cards will only change card status will change to closed. it will look back under manual review, that you opened cards only to close them within a month.

So best to leave as is? Rack up points on all 4 cards and then sock drawer 2?

yes, keep the cards for at least 11 months, a year or longer if no AF.

Re: Card approvals - OK to close one or 2?

Ghoshida — Fri, 17 Apr 2015 15:42:26 GMT

@Anonymous wrote:
@jamesdwi wrote:
@Anonymous wrote:
So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL
Citi Premier - no approval at first but called in and they approved right away for 5.6K CL
Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification
Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!
you have taken the hit, the HP and new TL will show on your report your AAoA will be effected, closing the cards will only change card status will change to closed. it will look back under manual review, that you opened cards only to close them within a month.

So best to leave as is? Rack up points on all 4 cards and then sock drawer 2?

Since you got them, get the spend bonuses on them. After that, SD them / use them whichever way you like. When the next AF gets closer, think of closing them if you like.

Re: Card approvals - OK to close one or 2?

Anonymous — Fri, 17 Apr 2015 15:44:14 GMT

@jamesdwi wrote:
@Anonymous wrote:
@jamesdwi wrote:
@Anonymous wrote:
So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL
Citi Premier - no approval at first but called in and they approved right away for 5.6K CL
Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification
Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!
you have taken the hit, the HP and new TL will show on your report your AAoA will be effected, closing the cards will only change card status will change to closed. it will look back under manual review, that you opened cards only to close them within a month.

So best to leave as is? Rack up points on all 4 cards and then sock drawer 2?
@Anonymous wrote:
@jamesdwi wrote:
@Anonymous wrote:
So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL
Citi Premier - no approval at first but called in and they approved right away for 5.6K CL
Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification
Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!
you have taken the hit, the HP and new TL will show on your report your AAoA will be effected, closing the cards will only change card status will change to closed. it will look back under manual review, that you opened cards only to close them within a month.

So best to leave as is? Rack up points on all 4 cards and then sock drawer 2?
yes, keep the cards for at least 11 months, a year or longer if no AF.

Thanks!

Re: Card approvals - OK to close one or 2?

Anonymous — Fri, 17 Apr 2015 15:44:30 GMT

@Ghoshida wrote:
@Anonymous wrote:
@jamesdwi wrote:
@Anonymous wrote:
So recently I decided to go on a spree.

Amex delta gold - approved for about 15k CL
Citi Premier - no approval at first but called in and they approved right away for 5.6K CL
Chase (CSP) - still waiting, but it seems like it was approved but declined pending verification
Capital One - still pending

So let's say all 4 are approved. Is it OK to close 2 of them? I should've done all the research before apply for all 4. I really needed 2 (mainly CSP for dining out points and such and then one other for travel benefits.

What are the implications for closing 2 newly opened cards?

Thanks!
you have taken the hit, the HP and new TL will show on your report your AAoA will be effected, closing the cards will only change card status will change to closed. it will look back under manual review, that you opened cards only to close them within a month.

So best to leave as is? Rack up points on all 4 cards and then sock drawer 2?
Since you got them, get the spend bonuses on them. After that, SD them / use them whichever way you like. When the next AF gets closer, think of closing them if you like.

Thank you!