topic Decisions Decisions in Credit Cards

Decisions Decisions

Anonymous — Mon, 08 Feb 2016 18:43:32 GMT

I have 5 credit cards total

2 Cap One QS

1 UFCU CC

1 NFCU secured

& 1 Total card

I want to get rid of the Total card (its limit is $350.00) it was a rebuilder card. the limit doesnt grow much. (I received a $50.00 CLI after 6 months)

So i am thinking, should i get rid of Total card and leave my cards the way they are? or apply for the secured IT card from discover? to replace the Total card?

Any assitance would be helpful

Re: Decisions Decisions

Creditaddict — Mon, 08 Feb 2016 18:47:19 GMT

@Anonymous wrote:
I have 5 credit cards total
2 Cap One QS
1 UFCU CC
1 NFCU secured
& 1 Total card

I want to get rid of the Total card (its limit is $350.00) it was a rebuilder card. the limit doesnt grow much. (I received a $50.00 CLI after 6 months)
So i am thinking, should i get rid of Total card and leave my cards the way they are? or apply for the secured IT card from discover? to replace the Total card?

Any assitance would be helpful

for sure close Total rewards instantly!

What are your scores?

did you try unsecured discover card and get declined?

Re: Decisions Decisions

Anonymous — Mon, 08 Feb 2016 18:56:22 GMT

Yes I was declined for discover the last time I applied. That's why I figured I would go for secured.
Ex 609 TU 587 EQ 577 those are fico 08

Re: Decisions Decisions

Creditaddict — Mon, 08 Feb 2016 18:57:07 GMT

@Anonymous wrote:
Yes I was declined for discover the last time I applied. That's why I figured I would go for secured.
Ex 609 TU 587 EQ 577 those are fico 08

then yes, I would get the secured... great card and you will get your TU fico monthly.

Re: Decisions Decisions

Anonymous — Mon, 08 Feb 2016 19:03:08 GMT

great... thank you

Re: Decisions Decisions

jeffery581 — Tue, 09 Feb 2016 01:02:17 GMT

You might try some snychrony store cards for rebuilding. Just an idea.

Re: Decisions Decisions

Anonymous — Tue, 09 Feb 2016 01:16:11 GMT

Doesn't Discover usually require a higher FICO score than the others? If so, you might have better luck getting an unsecured card from Chase or Citi.

Re: Decisions Decisions

Anonymous — Tue, 09 Feb 2016 01:24:39 GMT

Get your foot in the door with Disco. Great rewards and CLI crazy. Good luck.

Re: Decisions Decisions

Anonymous — Tue, 09 Feb 2016 01:37:58 GMT

If you have not picked up those 5 cards all in the last 24 months, you may be able to get the Chase Freedom, which would be a useful card and tends to approve in the low 600's. If you go secured, BOA might be the best because they graduate to real cards, I don't think Discover does.
If the Total card has an annual fee, then close it. If not, keep it open for now.

Re: Decisions Decisions

Anonymous — Tue, 09 Feb 2016 02:33:04 GMT

@Anonymous wrote:
I have 5 credit cards total
2 Cap One QS
1 UFCU CC
1 NFCU secured
& 1 Total card

I want to get rid of the Total card (its limit is $350.00) it was a rebuilder card. the limit doesnt grow much. (I received a $50.00 CLI after 6 months)
So i am thinking, should i get rid of Total card and leave my cards the way they are? or apply for the secured IT card from discover? to replace the Total card?

Any assitance would be helpful

What are you looking for in a card?

Re: Decisions Decisions

Anonymous — Tue, 09 Feb 2016 02:40:25 GMT

@Anonymous wrote:
Yes I was declined for discover the last time I applied. That's why I figured I would go for secured.
Ex 609 TU 587 EQ 577 those are fico 08

After you close the account, it may be better to spend time building your current cards instead of applying for new credit.

Re: Decisions Decisions

Anonymous — Tue, 09 Feb 2016 02:42:19 GMT

@Anonymous wrote:
Get your foot in the door with Disco. Great rewards and CLI crazy. Good luck.

Discover does have a good rewards system; however, not everyone has been fortunate with CLIs.

Re: Decisions Decisions

Anonymous — Tue, 09 Feb 2016 04:53:45 GMT

You should totally "total" that Total card! Pronto!

Re: Decisions Decisions

takeshi74 — Tue, 09 Feb 2016 14:34:28 GMT

@Anonymous wrote:

So i am thinking, should i get rid of Total card and leave my cards the way they are? or apply for the secured IT card from discover? to replace the Total card?

What are you looking to accomplish? What do you specifically need/want from a new card? Selecting a card isn't just about the card itself. It's about what specifically suits you.

Consider the information in the Closing Credit Cards thread linked in the Helpful Threads sticky.

@Anonymous wrote:
Yes I was declined for discover the last time I applied.

Use those denial reasons as a starting point on what to work on with your credit profile. Your scores also indicate that there are issues with your credit profile. Don't just rely on what you think you can qualify for. Idenitify the issues with your credit and work on addressing them.

@beautifulblaquepearl wrote:
Discover does have a good rewards system; however, not everyone has been fortunate with CLIs.

It's not a matter of fortune or luck. As with any creditor it's a matter of one's credit profile and income.

Re: Decisions Decisions

Anonymous — Wed, 24 Feb 2016 22:01:51 GMT

UPDATE

discover denied me because of my banktuptcy. still gonna close out total card and just keep the other cards i have

Re: Decisions Decisions

Anonymous — Wed, 24 Feb 2016 22:04:12 GMT

@Anonymous wrote:
UPDATE
discover denied me because of my banktuptcy. still gonna close out total card and just keep the other cards i have

How long has it been since your BK and how long since each of your inqs in the last year?

Re: Decisions Decisions

Anonymous — Wed, 24 Feb 2016 22:06:07 GMT

Bk discharged 7/2015 & last inq with discover was about 5 months ago

Re: Decisions Decisions

Anonymous — Wed, 24 Feb 2016 22:12:50 GMT

@Anonymous wrote:
Bk discharged 7/2015 & last inq with discover was about 5 months ago

With a BK that is less than a year old, there aren't going to be any unsecured cards that will accept you and that you want to be in bed with.

Re: Decisions Decisions

Anonymous — Wed, 24 Feb 2016 22:15:26 GMT

I was applying for the secured with discover. Because inward gonna get rid of total card but I think I have plenty of cards right now. So I should be good