topic Re: Help me think im good longish term in Credit Cards

Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 02:35:53 GMT

So my equifax score is 673, i shop at cabelas so i decieded to try and get there card. Last night approved right away dont know the terms. I also applied at my credit union approved so here are my stats.

Amex bce 2,000

cap 1 750

credit union platnium 4500 wow excited largest ever.

cabelas visa dont know

so any advice i want to not have to keep applying all carry no balance pif, are these good besides cap 1 for longterm growth. I was young and dumb once aaoa is 4.5 years havent had a late payment in 5.5 years alot of bad crap will come off in 2 years. Questions when should i dump cap 1 both have annual fees all other cards dont.

Re: Help me think im good longish term

Razeus — Sun, 02 Sep 2012 02:45:38 GMT

I'd just kill the Cap One cards immediately. The AMEX and Credit Union Plat should be plenty. Not sure why you did a department store card. Are they giving you a big discount on EVERY purchase, not just the one time for applying? I can't stand department store cards. I'd add a Chase Freedom and a Discover It card to your line up. Call it a day.

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 02:51:09 GMT

i shop at cabelas twice a month couple hundred at a time. There giving 2% not great but its ok.

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 02:52:19 GMT

credit score not going to get another ding by closing cap 1's they are the oldest credit line besides car loans

Re: Help me think im good longish term

wreith — Sun, 02 Sep 2012 02:58:11 GMT

@Anonymous wrote:
credit score not going to get another ding by closing cap 1's they are the oldest credit line besides car loans

No, your score won't take any hit from closing the Cap 1's. They will continue to show postive for the next 10 years, by the time they fall off your new ones will have aged quite nicely.

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 03:00:20 GMT

i dont think i need a chase freedom, cabelas is visa cu card is visa but im all ears to adice.

Re: Help me think im good longish term

Razeus — Sun, 02 Sep 2012 03:02:17 GMT

When you get the Cabela limit, let us know. Hopefully it exceeds your Cap One's combined so it doesn't affect your utilization when you close them out.

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 03:06:59 GMT

ya i will hopefully its 2k, i think the credit union gave higher because i have a car loan with them and about 6 years of history

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 03:09:32 GMT

I would get rid of the Cabela card and the Capone Cards. Apply for Chase Freedom and Discover cards. Use the discover card only for 5% categories and special promotions and use Freedom/BCE for everything else.

Then garden

Re: Help me think im good longish term

Razeus — Sun, 02 Sep 2012 03:10:24 GMT

If they can be recon, then do so for the limit you need, if not a little more. CapOne AF is ridiculous since they don't give you any rewards or benefits. Put them out to pasture.

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 03:18:24 GMT

ya cap 1 blows it did its job though. I haven't even got the cabelas card yet. How i do it grocries and gas amex, cabelas will only be used there, i guess the credit union card will be used for extreme emergencys and it will help the utilization alot, ill dump cap1 as soon as i find out cabelas or when the cu card comes

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 03:24:00 GMT

@Anonymous wrote:
ya cap 1 blows it did its job though. I haven't even got the cabelas card yet. How i do it grocries and gas amex, cabelas will only be used there, i guess the credit union card will be used for extreme emergencys and it will help the utilization alot, ill dump cap1 as soon as i find out cabelas or when the cu card comes

I am pretty against store cards in general so take my advice with a grain of salt. I think the only good "store" card is the priceline rewards visa card which offers 2% on everything you buy, but I don't think you would qualify for that at this stage.

Re: Help me think im good longish term

webhopper — Sun, 02 Sep 2012 03:34:10 GMT

It seems like you have a good line up! If the crap 1 cards have no fee; you might as well keep them and stick them in a sock drawer

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 03:39:21 GMT

crap1 has 59 fee so its a gonner, it was a nice card to rebuild sucks they dont work with you to make it grow

Re: Help me think im good longish term

webhopper — Sun, 02 Sep 2012 03:55:28 GMT

Yep... give it the old axe

Cap 1; its you not me; our relationship is going nowhere.

Re: Help me think im good longish term

bichonmom — Sun, 02 Sep 2012 04:38:48 GMT

How long have you had your Amex and CU CC? Banks and CCs like to see at least a year or 2 of open, active tradelines reporting for at least 2 accts. If you've had your Amex and CU CC a couple of years, then I'd close the Cap Ones. But if your Amex and/or CU CC are new, I'd wait until they've both been open at least a year, preferrably 2 yrs. And this is based on advice that I got from a loan officer/underwriter at my local CU.

Re: Help me think im good longish term

Anonymous — Sun, 02 Sep 2012 04:40:50 GMT

amex will turn a year next month cu cc is new just got approved havent even got it yet. So maybe i should keep the cap1 for a couple more months? the annual fee is coming just a waste of money if i had to pay it.

Re: Help me think im good longish term

Razeus — Sun, 02 Sep 2012 04:43:37 GMT

Just dump it. The Amex and the other one will hold you for a good while.

Re: Help me think im good longish term

bichonmom — Sun, 02 Sep 2012 05:38:03 GMT

@Anonymous wrote:
amex will turn a year next month cu cc is new just got approved havent even got it yet. So maybe i should keep the cap1 for a couple more months? the annual fee is coming just a waste of money if i had to pay it.

If you close your Cap Ones, you're only going to have one open tradeline that has been open one year. Your other open tradeline will be brand new. You're going to find it a challenge to qualify for any new (prime) CCs for at least another year. If you don't plan on apping for a year, then you'll probably be okay. But with only one 1-yr old open acct and one brand new one, most prime CCs aren't going to approve you. They really like to see at least 2 open tradelines that have been open for 1 year minimum.

Re: Help me think im good longish term

Anonymous — Mon, 03 Sep 2012 05:58:08 GMT

so i only have to worry about dumping the cap 1 if i want new credit? The three i have now are more than enough, i do want a amex plat but that is at least 2 years away. Ill get rid of them on tuesday no since in paying the af