topic Close 3 cards and replace one in Credit Cards

Close 3 cards and replace one

Anonymous — Thu, 03 Mar 2011 11:38:27 GMT

I am thinking about closing my Delta Gold, Home Depot Store Card and Personal Amex Gold. I also want to replace the Citi with a Chase Freedom Card. When should I app for that?

Personal Cards -

Discover CL $4000

Amex Starwood CL $4000

Citi Diamond CL $7500

Credit Union Card CL $2000

Amex Gold

Delta Gold CL $2000

Home Deot CL $2500

Business Cards -

AMEX Plum 50k spending cap

AMEX Platinum 50k spending cap

Chase Ink CL $

Re: Close 3 cards and replace one

Anonymous — Thu, 03 Mar 2011 11:53:38 GMT

@Anonymous wrote:
I am thinking about closing my Delta Gold, Home Depot Store Card and Personal Amex Gold. I also want to replace the Citi with a Chase Freedom Card. When should I app for that?

Personal Cards -
Discover CL $4000
Amex Starwood CL $4000
Citi Diamond CL $7500
Credit Union Card CL $2000
Amex Gold
Delta Gold CL $2000
Home Deot CL $2500

Business Cards -
AMEX Plum 50k spending cap
AMEX Platinum 50k spending cap
Chase Ink CL $

Why do you want to close the HD CL? It's gonna dent your credit score if you close all three...

Re: Close 3 cards and replace one

Anonymous — Thu, 03 Mar 2011 12:07:38 GMT

I want to stream line my life and just have a few quality cards.

Whats wrong with my CC list looking like this -

Personal Cards

Discover

Chase Freedom (or other)

Amex Starwood

Business

AMEX Plum

AMEX Platinum

Chase Ink Cash

Re: Close 3 cards and replace one

smc733 — Thu, 03 Mar 2011 12:15:30 GMT

Nothing wrong with it at all. I only have 5 active cards and even this seems excessive (but I don't have the heart to close any of them). Definitely beats juggling 8 or 9, though.

Re: Close 3 cards and replace one

Anonymous — Thu, 03 Mar 2011 15:10:37 GMT

@Anonymous wrote:

Why do you want to close the HD CL? It's gonna dent your credit score if you close all three...

Hmmm......not necessarily. Fused's closing credit cards is a good read.

Re: Close 3 cards and replace one

vish1 — Thu, 03 Mar 2011 16:17:47 GMT

@Anonymous wrote:
I am thinking about closing my Delta Gold, Home Depot Store Card and Personal Amex Gold. I also want to replace the Citi with a Chase Freedom Card. When should I app for that?

Personal Cards -
Discover CL $4000
Amex Starwood CL $4000
Citi Diamond CL $7500
Credit Union Card CL $2000
Amex Gold
Delta Gold CL $2000
Home Deot CL $2500

Business Cards -
AMEX Plum 50k spending cap
AMEX Platinum 50k spending cap
Chase Ink CL $

You are asking a question which has nothing to do with the data you provided in your post.

You need to provide what your CR looks like, AAoA, Inq, baddies etc etc.

In a nutshell, unless you have acquired many new cards recently, based on your other cards, you should be good to apply for a chase anytime.

About closing the cards, it's your decision and as long as it doesn't cause your util to shoot up, it won't have any negative or positive impact on your credit.

Re: Close 3 cards and replace one

DI — Thu, 03 Mar 2011 16:35:52 GMT

@Anonymous wrote:
I want to stream line my life and just have a few quality cards.

Whats wrong with my CC list looking like this -

Personal Cards
Discover
Chase Freedom (or other)
Amex Starwood

Business
AMEX Plum
AMEX Platinum
Chase Ink Cash

That could mean having 10 cards compared to having 20. At one time I had a total of 11 cards to juggle. I'm down to 8 now and like them all.

Re: Close 3 cards and replace one

Anonymous — Fri, 04 Mar 2011 00:06:19 GMT

Well my CR report is spotless and I can get most any card I want. I figured the fact that I had a Plum and Platinum Amex spoke for that.

I just added the Chase Ink to my Business which in under the EIN w/ me PG

Re: Close 3 cards and replace one

Karatz — Fri, 04 Mar 2011 05:26:32 GMT

Good Reason to close an account. Make sure you're educated thoroughly by solid information and sit on it a few weeks before you pull the trigger. Remember you are replacing cards with good age with one with no age. A credit report with 1 credit card with 6 months perfect payments is just as spotless as 1 credit card with 16 years perfect payments; however, each spotless credit report does not have the same credit score. Due diligience.