topic Re: Which credit should I get rid of? in Credit Cards

Which credit should I get rid of?

Anonymous — Thu, 27 Mar 2008 13:39:32 GMT

Chase - $400 Limit

Best Buy Rewards - $300 Limit

Orchard Bank - $300 Limit

Which of these credit cards are good with CLI and which credit card has a low maximum credit limit.

These are pushing me down, so I just want to pay it then never use it again.

Thanks,

Re: Which credit should I get rid of?

Anonymous — Fri, 28 Mar 2008 04:46:52 GMT

BUMP? Anyone?

Re: Which credit should I get rid of?

Anonymous — Fri, 28 Mar 2008 04:53:21 GMT

Dump Orchard.

Do you have other cards than those listed?

Re: Which credit should I get rid of?

Anonymous — Fri, 28 Mar 2008 04:54:17 GMT

NessCaroc wrote:

Chase - $400 Limit

Best Buy Rewards - $300 Limit

Orchard Bank - $300 Limit

Which of these credit cards are good with CLI and which credit card has a low maximum credit limit.

These are pushing me down, so I just want to pay it then never use it again.

Thanks,

This is an easy one.

Orchard will not grow with you as your credit improves, and you will likely have to pay for CLIs if you want them (something like $25 per $100 CLI).

Chase is a prime lender. Keep it and establish a relationship with them.

Your Best Buy card may have a max CL (many of them do, but some of them don't). Even if it does, though, presumably you got it because you can use the Best Buy rewards. You won't get those with Orchard.

Re: Which credit should I get rid of?

Anonymous — Fri, 28 Mar 2008 04:57:17 GMT

I agree with everyone else...get rid of orchard!

Re: Which credit should I get rid of?

Anonymous — Fri, 28 Mar 2008 05:55:38 GMT

None of the cards are "holding you back." To FICO, they're all revolving credit accounts in good standing, which are a plus.

Now it may be that the Orchard card has a stubbornly high annual fee, nosebleed-level interest rates, or is otherwise undesirable for reasons unrelated to FICO. If that's the case, then yes, deep-six it. Otherwise, just pull it out of the sock-drawer once every other month or so and buy a cheeseburger, let it report, and then pay it off.

Re: Which credit should I get rid of?

Anonymous — Fri, 28 Mar 2008 21:39:56 GMT

I agree. Orchard has been helpful to me. Once you get some clis you can get rid of it. Right now you're pretty thin.

Re: Which credit should I get rid of?

fused — Fri, 28 Mar 2008 22:04:26 GMT

casinoannie97 wrote:

I agree. Orchard has been helpful to me. Once you get some clis you can get rid of it. Right now you're pretty thin.

Though some of you know I'm not one to preach keeping all CCs open unless they're costing you money, I have to agree with you and TNWM. It's not a good idea to close this Orchard (even though I hate them). Things to consider:

- you have only three cards (2 if they close one)...as you mentioned

- they have small credit limits

- don't close cards if you're someone who currently has trouble accessing new credit

Re: Which credit should I get rid of?

Anonymous — Sat, 29 Mar 2008 02:52:03 GMT

Nothing says "Hi, I'm damaged goods" like whipping out an Orchard card.

Except for maybe that Blaze card.

Re: Which credit should I get rid of?

unknown_entity — Sat, 29 Mar 2008 02:53:21 GMT

Or an active Fingerhut account!!

Re: Which credit should I get rid of?

Anonymous — Sat, 29 Mar 2008 02:54:42 GMT

@unknown_entity wrote:
Or an active Fingerhut account!!

YES FINGERHUT! I had completely forgotten that they even existed!

Re: Which credit should I get rid of?

Anonymous — Sat, 29 Mar 2008 04:01:48 GMT

@unknown_entity wrote:
Or an active Fingerhut account!!

hahahahah..LMAO

Re: Which credit should I get rid of?

Anonymous — Sat, 29 Mar 2008 05:45:08 GMT

get rid of orchard bank. i had one before i call then for a cli. they said yes but they charge my a 30 fee to increase my cl 100$. i said no thaks.

Re: Which credit should I get rid of?

Anonymous — Sat, 29 Mar 2008 06:01:42 GMT

Sorry,

I haven't been able to post here but yeah.

I have more credit cards, and I thought has having orchard bank,chase,best buy MC around would just lower my score since these are low limit cards.

Other credit and limits:

Navy Fed: $5000

Kay Jewelers: $2000

Hooters: $500

Best Buy (SC): $1200

Capital One: $1350

Home Depot (SC): $500

Dell: $2000

Target: $500

Only accounts that have balances are Best Buy, Navy Fed, Dell, and Chase