topic Re: Account Closing Spree! Weeee!!!!!!!! in Credit Cards

Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:15:03 GMT

So I got a denial for having too many open accounts recently. Most of which I don't use anyway. So I went a little crazy and closed anything that wasn't useful. Here's the list of closed accounts for your viewing pleasure:

Macys Star Rewards 3k CL

Capital One Platinum 3.5k CL

Eddie Bauer 1k CL

Orchard Bank 2k CL

Victoria Secrets Angel Card 1k CL

J Crew 500 CL

First Premier Bank 1k CL

JC Penny 800 CL

Kay & Jareds 3k CL

Merrick Bank 2k CL

Shell Drive for Five 1k

Total Credit Lines Reduced by $18.8k

Weeeeeee......

That was less fun than opening them and took entirely too many phone calls.

Re: Account Closing Spree! Weeee!!!!!!!!

HiLine — Fri, 29 Mar 2013 00:15:47 GMT

Wow. How many credit cards did you have in total?

Re: Account Closing Spree! Weeee!!!!!!!!

myjourney — Fri, 29 Mar 2013 00:18:30 GMT

1st reverse app spree I've heard of Lol

The good news is they will still be reporting until 2023

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:20:06 GMT

I'm trying to start a trend....

I'm on the fence about closing Walmart...I know it gives me a TU08 score...but Merrick gave me a score too...and it didn't make it.

First Premier was a little annoyed because a few weeks ago they gave me a $45 credit to keep the account open. hahaha.

Re: Account Closing Spree! Weeee!!!!!!!!

webhopper — Fri, 29 Mar 2013 00:20:59 GMT

Smart move in my opinion... better to focus on a few really awesome cards instead of 20 duds.

Re: Account Closing Spree! Weeee!!!!!!!!

myjourney — Fri, 29 Mar 2013 00:22:02 GMT

@Anonymous wrote:
I'm trying to start a trend....

I'm on the fence about closing Walmart...I know it gives me a TU08 score...but Merrick gave me a score too...and it didn't make it.

First Premier was a little annoyed because a few weeks ago they gave me a $45 credit to keep the account open. hahaha.

LMAO

Re: Account Closing Spree! Weeee!!!!!!!!

QuantumCredit — Fri, 29 Mar 2013 00:23:05 GMT

Really? So his AAoA won't be affected until 2023? And his closed accounts will age until then? I'm a little unclear on that and I hate to ask a question that I know has dedicated threads about but they are not 100% concrete on it too, so I wanna ask - when you close accounts, the only thing that is affected immadiately is your utilization, correct? Everything else stays the same for another 10 years?

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:24:12 GMT

My Express card will be on the chopping block tomorrow once I pay the balance. Walmart is likely to be lined up right behind it.

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:25:33 GMT

My util prior to closing all these accounts (according to my own spreadsheet was 4.85%. After closing all these accounts it jumps sky high to 6.46%.

Re: Account Closing Spree! Weeee!!!!!!!!

FocusedAndDetermined — Fri, 29 Mar 2013 00:27:13 GMT

Well done!

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:29:14 GMT

Its so tempting to add Target to the dead pile as well. If not for the fact it gives me 5% off everything at Target, it would be gone.

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:33:37 GMT

good move.I am planning on closing Penfed for been unprofessional with their credit limit

and not to mention decline my app for line of credit 3 times with 761 fico and utl 1%

Right now they are the smallest limit i have

Re: Account Closing Spree! Weeee!!!!!!!!

Epcot — Fri, 29 Mar 2013 00:32:56 GMT

That's alot of closings!

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:34:23 GMT

PenFed in my experience has been pretty professional. Except for one CSR trying to tell me that closing CC's damages your credit report. She was trying to educate me on how to maintain my credit report. I almost started laughing when she was trying to explain how to check my credit report.

Re: Account Closing Spree! Weeee!!!!!!!!

09Lexie — Fri, 29 Mar 2013 00:38:18 GMT

That's quite a list! I agree with closing off some 'hanger ons'.

Re: Account Closing Spree! Weeee!!!!!!!!

FocusedAndDetermined — Fri, 29 Mar 2013 00:39:43 GMT

@Anonymous wrote:
Its so tempting to add Target to the dead pile as well. If not for the fact it gives me 5% off everything at Target, it would be gone.

YEah, no point in closing an account that provides you benefits - no matter how small. Even if it's just pocket change, it's your pocket change.

Re: Account Closing Spree! Weeee!!!!!!!!

Blurbz — Fri, 29 Mar 2013 00:41:28 GMT

@FocusedAndDetermined wrote:
@Anonymous wrote:
Its so tempting to add Target to the dead pile as well. If not for the fact it gives me 5% off everything at Target, it would be gone.
YEah, no point in closing an account that provides you benefits - no matter how small. Even if it's just pocket change, it's your pocket change.

You can close the account and switch to a Target debit card. It's not a credit card and it'll still give you the 5% off at Target. Win-win!

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:41:36 GMT

I congratulate your execution!!

Re: Account Closing Spree! Weeee!!!!!!!!

LS2982 — Fri, 29 Mar 2013 00:45:16 GMT

@Anonymous wrote:
So I got a denial for having too many open accounts recently. Most of which I don't use anyway. So I went a little crazy and closed anything that wasn't useful. Here's the list of closed accounts for your viewing pleasure:

Macys Star Rewards 3k CL
Capital One Platinum 3.5k CL
Eddie Bauer 1k CL
Orchard Bank 2k CL
Victoria Secrets Angel Card 1k CL
J Crew 500 CL
First Premier Bank 1k CL
JC Penny 800 CL
Kay & Jareds 3k CL
Merrick Bank 2k CL
Shell Drive for Five 1k

Total Credit Lines Reduced by $18.8k

Weeeeeee......

That was less fun than opening them and took entirely too many phone calls.

Did you try the Cap1 EO before closing them??

Re: Account Closing Spree! Weeee!!!!!!!!

Anonymous — Fri, 29 Mar 2013 00:45:24 GMT

@Anonymous wrote:
PenFed in my experience has been pretty professional. Except for one CSR trying to tell me that closing CC's damages your credit report. She was trying to educate me on how to maintain my credit report. I almost started laughing when she was trying to explain how to check my credit report.

Lol is that so?
Wen that happen i always say yea ok,yea ok,yea ok......