topic Re: 8 CREDIT CARDS in Credit Cards

8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:05:22 GMT

Now officially I have these 8 credit cards. I have closed all other credit cards

1. BOA

2.ORCHARD

3.JFCU

4.DILLARDS

5.WALMART

6.TARGET

7.SPIEGELS

8.HOOTERS.

I did not get the courage to close my Orchard card because that is my oldest card.

Maybe in few months I will close it too.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:09:00 GMT

ashabbir1 wrote:
Now officially I have these 8 credit cards. I have closed all other credit cards

1. BOA
2.ORCHARD
3.JFCU
4.DILLARDS
5.WALMART
6.TARGET
7.SPIEGELS
8.HOOTERS.

I did not get the courage to close my Orchard card because that is my oldest card.

Maybe in few months I will close it too.

You need to drop Spiegels, Dillards, and Orchard.

Otherwise, I like your line-up.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:11:45 GMT

Thanks for your reply. I am dropping all the credits with annual fee and monthly fee.

only orchard card and boa card has annual fee. Boa card annual fee will be gone in 5

months. I know orchard does not waive that fee so I will close them asap.Spiegels

and dillards have no annual fee thats why i am keeping it just in a sock drawer

TheCynicalOne wrote:

ashabbir1 wrote:
Now officially I have these 8 credit cards. I have closed all other credit cards

1. BOA
2.ORCHARD
3.JFCU
4.DILLARDS
5.WALMART
6.TARGET
7.SPIEGELS
8.HOOTERS.

I did not get the courage to close my Orchard card because that is my oldest card.

Maybe in few months I will close it too.

You need to drop Spiegels, Dillards, and Orchard.

Otherwise, I like your line-up.

Message Edited by ashabbir1 on 11-23-2007 01:11 PM

Message Edited by ashabbir1 on 11-23-2007 01:11 PM

Re: 8 CREDIT CARDS

CreditDrama85 — Fri, 23 Nov 2007 21:11:33 GMT

i seriously would like to close my capital one account because it has a bullsh*t cl of 500 but i havent closed it yet because it is my oldest tl.

i might close the account, its really becoming about the principle...who cares about fico

btw, i always pay on time have and have tried the backdoor number...no love for me

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:14:49 GMT

Great list. Not sure why you would advise to close the Spiegels and Dillards cards, those are store cards and add to the credit mix. I don't use my Dillards often, but I still have it and will keep it.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:26:21 GMT

Thanks Brammy, within few months I want to add wamu, juniper, amex and

discover to my list and then I am done.

Brammy wrote:
Great list. Not sure why you would advise to close the Spiegels and Dillards cards, those are store cards and add to the credit mix. I don't use my Dillards often, but I still have it and will keep it.

Re: 8 CREDIT CARDS

SonorityGenius — Fri, 23 Nov 2007 21:31:31 GMT

Wow all 28 cards reduced to 8?

Very courageous! - not sure if it was a good move yet, though.............

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:35:35 GMT

Thanks for your email Sonority. I was paying for so much monthly fees and Annual fees

without a reason. I thought it is time. What do you think?

thanks

SonorityGenius wrote:
Wow all 28 cards reduced to 8?

Very courageous! - not sure if it was a good move yet, though.............

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:38:09 GMT

I cant apply for another 6 months anyway so I think score would recover within

6 months

thanks

SonorityGenius wrote:
Wow all 28 cards reduced to 8?

Very courageous! - not sure if it was a good move yet, though.............

Re: 8 CREDIT CARDS

SonorityGenius — Fri, 23 Nov 2007 21:38:38 GMT

ashabbir1 wrote:
Thanks for your email Sonority. I was paying for so much monthly fees and Annual fees

without a reason. I thought it is time. What do you think?

thanks

Ohh okay! If its to avoid the AFs and other fees, thats a great move.. and your Orchard's history retains on there till 10 years so close it if you want as well..

But this means all the cards you closed - 20 - had af's and fees? yikes

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:39:34 GMT

Since you will keep the ccount history for ten years as long as your uti doesn;t drastically increase, I don't see an issue. As a matter of fact too many open cards can ding your score a little depending on the scoring model used. Definitely good to get rid of them with annal and monthly fees. though if AF only I probably would have closed at the anniversary date.

Re: 8 CREDIT CARDS

kclb — Fri, 23 Nov 2007 21:39:52 GMT

That brings back memories when I had a lot of CCs. Those were the crazy days. Phew.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:50:26 GMT

Thanks for your reply Brammy. I just paid orchard bank AF last month. So should

I wait for another 11 months to close that card?

thanks

Brammy wrote:
Since you will keep the ccount history for ten years as long as your uti doesn;t drastically increase, I don't see an issue. As a matter of fact too many open cards can ding your score a little depending on the scoring model used. Definitely good to get rid of them with annal and monthly fees. though if AF only I probably would have closed at the anniversary date.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:52:02 GMT

Yep I had caredit cards like rewards 660, tribute, continental finance. total visa

they are the worse type of sub prime cards but they did serve the purpose and

now I am getting prime card offers every day.

thanks

SonorityGenius wrote:

ashabbir1 wrote:
Thanks for your email Sonority. I was paying for so much monthly fees and Annual fees

without a reason. I thought it is time. What do you think?

thanks

Ohh okay! If its to avoid the AFs and other fees, thats a great move.. and your Orchard's history retains on there till 10 years so close it if you want as well..

But this means all the cards you closed - 20 - had af's and fees? yikes

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:53:58 GMT

That is going to have to be up to you, but in my case, as long as it didn't come with a monthly fee, I would keep it til the anniversary date. That way the accounts fall over your reports gradually starting ten ears from now instead of all in one fell swoop. I just wouldn't use it often.

ashabbir1 wrote:

Thanks for your reply Brammy. I just paid orchard bank AF last month. So should

I wait for another 11 months to close that card?

thanks

Brammy wrote:

Since you will keep the ccount history for ten years as long as your uti doesn;t drastically increase, I don't see an issue. As a matter of fact too many open cards can ding your score a little depending on the scoring model used. Definitely good to get rid of them with annal and monthly fees. though if AF only I probably would have closed at the anniversary date.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 21:55:07 GMT

Thanks for your reply. I dont have any monthly fee for the orchard card

thanks

Brammy wrote:
That is going to have to be up to you, but in my case, as long as it didn't come with a monthly fee, I would keep it til the anniversary date. That way the accounts fall over your reports gradually starting ten ears from now instead of all in one fell swoop. I just wouldn't use it often.
ashabbir1 wrote:
Thanks for your reply Brammy. I just paid orchard bank AF last month. So should

I wait for another 11 months to close that card?

thanks
Brammy wrote:
Since you will keep the ccount history for ten years as long as your uti doesn;t drastically increase, I don't see an issue. As a matter of fact too many open cards can ding your score a little depending on the scoring model used. Definitely good to get rid of them with annal and monthly fees. though if AF only I probably would have closed at the anniversary date.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 22:58:59 GMT

Just sockdrawer them.

Re: 8 CREDIT CARDS

Red1Blue — Fri, 23 Nov 2007 23:33:48 GMT

Hi Ash, I still dont understand why you have to through so much trouble to add cards and close them again. Could have waited few months for BOA to go unsecured and get all the CLI you wanted along with it add a card from Barclays. Any way you brought us all a new inspiration in this forum. It is a good move closing the cards with AF.

Re: 8 CREDIT CARDS

Anonymous — Fri, 23 Nov 2007 23:51:24 GMT

Thanks

concorduser wrote:
Hi Ash, I still dont understand why you have to through so much trouble to add cards and close them again. Could have waited few months for BOA to go unsecured and get all the CLI you wanted along with it add a card from Barclays. Any way you brought us all a new inspiration in this forum. It is a good move closing the cards with AF.

Re: 8 CREDIT CARDS

Anonymous — Sat, 24 Nov 2007 01:27:50 GMT

Brammy wrote:
Great list. Not sure why you would advise to close the Spiegels and Dillards cards, those are store cards and add to the credit mix. I don't use my Dillards often, but I still have it and will keep it.

Nobody cares whether it's a store card or a bank credit card. They're all revolving lines of credit. Doesn't make a difference whether it's a catalog credit card.