topic Re: GREAT App Spree Today in Credit Cards

GREAT App Spree Today

Anonymous — Thu, 26 Apr 2012 12:45:42 GMT

I am jumping up and down now

I got bored this morning, came out of the garden and applied for Amex Zync, Chase Freedom, & Discover More

1. Amex Zync - Immediate approval NPSL with 1st year annual fee waived.

2. Chase Freedom - Recon and approved for 3K limit - my highest

3. Discover More - Recon and approved with 1.5 K limit

My question is I already have the cards below, should I close any one of them!!! I think I should have three credit cards and one charge card ideally. What do all of you think.

1. Wells Fargo Student Card limit 500 and opened September 2011.

2. Capital one limit 500 opened October 2011

3. BOA 1-2-3 fully Secured Credit Card for 1,000 opened March 2012.

Re: GREAT App Spree Today

casi218 — Thu, 26 Apr 2012 12:47:31 GMT

Congrats on the new cards!

Re: GREAT App Spree Today

Anonymous — Thu, 26 Apr 2012 12:56:13 GMT

Congrats on the new cards!

Personally, I don't see much reason to close any card that doesn't have an AF (or monthly charge) unless there's something about the company that you really dislike or maybe if you're breaking into 5 digit CLs and the card is tiny by comparison (even without an AF).

Looking at what you listed, I'd keep them all open if there's no AF on any of them... I'd be partial to closing the BofA (because I'm bitter about them not CLI'ing my secured card since it graduated 3 years ago), but since it's brand new and will unsecure (I assume) in a year I guess there's no reason to even close that one right away.

Re: GREAT App Spree Today

Datx — Thu, 26 Apr 2012 12:54:07 GMT

Congrats!

If your current cards the only CCs you have right now, because of the dates those cards were open, I would leave them be. I guess its just me, but I like leaving CCs open for at least a year before I close them.

Re: GREAT App Spree Today

RyVision — Thu, 26 Apr 2012 13:02:45 GMT

Congrats on the approvals!

You've built a nice collection. Unless you don't like the AF, you might not want to close any of the ones you mentioned (not sure what their AFs might be). The BoA will eventually graduate (if you don't mind them holding your money, I have to add that). The Cap 1 is a toss up really, and I'm guessing it has an AF (first one I'd dump if they won't give you a break on the AF, if you really want to get rid of one). They all add to your AAoA though (even if closed, they'll report for about 10 years, as I'm sure you know).

Since you've paid for Cap 1 for a year anyway (if it has an AF), you might want to hold it at least until they raise your limit (if you're on the credit steps program etc). That way at least once closed, it will show a higher credit limit (not much but won't hurt). Just my 2 cents.

Re: GREAT App Spree Today

HikingFICOMountain — Thu, 26 Apr 2012 13:22:42 GMT

Congrats! Nice group of cards.

Did you get a pre-approval from Discover? Did they check TU?

Re: GREAT App Spree Today

Anonymous — Thu, 26 Apr 2012 13:24:46 GMT

How do I know what they check, and I went to Discovers' site and it told me I was pre-approved.

Re: GREAT App Spree Today

HikingFICOMountain — Thu, 26 Apr 2012 13:29:23 GMT

You can find out what CRA they check If you get credit alerts and later when you get your letter from Discover.

Re: GREAT App Spree Today

Anonymous — Thu, 26 Apr 2012 13:51:06 GMT

Discover and Amex pulled Transunion.

Re: GREAT App Spree Today

Anonymous — Thu, 26 Apr 2012 14:09:38 GMT

Congrats on the new cards! Unless you're paying a fee, I'd leave all your older cards open.

Re: GREAT App Spree Today

Anonymous — Thu, 26 Apr 2012 14:19:09 GMT

Congrats

Re: GREAT App Spree Today

clocktick — Thu, 26 Apr 2012 14:36:42 GMT

Congrats! What a great spree!

Are you still a studend? Does Cap One charge an AF? I'm a firm believer that if you don't want a card, then close it. Keep in mind, you can do this at any time. You don't have to close all 3 at the same time, or even the same year. I would read the sticky about Closing Credit Cards.

Congrats again on your new collection!

Re: GREAT App Spree Today

MsLadyRover — Thu, 26 Apr 2012 22:39:23 GMT

Congratulations on your successful spree!!

Re: GREAT App Spree Today

Anonymous — Fri, 27 Apr 2012 01:28:29 GMT

Yes I am a student and my cap 1 and boa has a AF.

Re: GREAT App Spree Today

webhopper — Fri, 27 Apr 2012 03:15:46 GMT

Congrats. You snagged some awesome cards!!