topic Re: Should I close these "store" cards? in Credit Cards

Should I close these "store" cards?

thelethargicage — Thu, 13 Jun 2013 20:41:22 GMT

Rooms-To-Go (6K) - 10/2009

Dell Financial Services (3K) - 12/2009

Jared (10K) - 2/2010

CareCredit (3.7K) - 4/2011

The Jared card is my highest limit, but I have absolutely no use for it. At the same time, I'm afraid of getting rejected for a card I actually want because of "too much available credit" (even though I can only use any of these cards in their respective stores). What do you guys suggest?

Re: Should I close these "store" cards?

Anonymous — Thu, 13 Jun 2013 23:53:40 GMT

if there's no AF, keep 'em open. the CLs will count towards utilization. and unless you have a megaton amount of available credit vs. income, i think you're safe.

Re: Should I close these "store" cards?

kevinjjc — Fri, 14 Jun 2013 02:11:13 GMT

How much available credit do you have? Income?

Re: Should I close these "store" cards?

Anonymous — Fri, 14 Jun 2013 02:14:43 GMT

@thelethargicage wrote:
Rooms-To-Go (6K) - 10/2009
Dell Financial Services (3K) - 12/2009
Jared (10K) - 2/2010
CareCredit (3.7K) - 4/2011

The Jared card is my highest limit, but I have absolutely no use for it. At the same time, I'm afraid of getting rejected for a card I actually want because of "too much available credit" (even though I can only use any of these cards in their respective stores). What do you guys suggest?

I suggest closing any store cards that you have no need for in the future (2yrs or so) . They still help you CR for 10 years. And the "too much available credit" is sometimes an issue.

Re: Should I close these "store" cards?

thelethargicage — Fri, 14 Jun 2013 02:19:07 GMT

Available credit: 38.2K (unless you count my HELOC, in which case it's 64K)
Income: 88.8K

Re: Should I close these "store" cards?

09Lexie — Fri, 14 Jun 2013 02:17:30 GMT

Does $47.2k include the store cc's you are thinking about closing?

Re: Should I close these "store" cards?

thelethargicage — Fri, 14 Jun 2013 02:20:45 GMT

Yes, it does.

I made a mistake adding up my limits. It's actually 38.2K of available credit.