topic Re: Need to do some pruning in Credit Cards

Need to do some pruning

revvystoke — Mon, 18 Nov 2013 22:38:57 GMT

Booked out mileage tickets for the family on united earlier this year, earned miles back up since then and both accounts have 200k+ miles (Akair and United) enough for vacation tickets through 2015. Wondering if I should close out the united card, and app in a year for another bonus (do they allow that?) Discover is my oldest and I have been putting most of my daily spend on my freedom card. Planning on a SPG card in January, thinking to give Walmart the axe as well, only upside to that card is the free score.

Not sure what to do with my simplicity, kind of useless right now, 0% for another 18 months but my highest apr @ 17.99 and no BT offers.

Re: Need to do some pruning

myjourney — Tue, 19 Nov 2013 06:05:54 GMT

Bump for help

Re: Need to do some pruning

Revelate — Tue, 19 Nov 2013 06:16:57 GMT

You have 7 or 8 tradelines (didn't count specifically) any reason you want to prune them back? That's prettty typical honestly, and unless it's an unused card which your'e paying a fee on (that you care about) there's no real need to close it unless you find yourself struggling to manage the cards you do have. FICO-wise it's more to your benefit to keep them open.

End of the day it's a penalty to reopen a former tradeline; if certain of those cards aren't working for you, consider swapping them to a card that does as you have a number of solid lenders in the list. The Wally card is fine as a tradeline farm, $0 AF, FICO score, and usable as general purpose card given the absurd product range Walmart has access to.

It's your call, but personally I don't see much upside to it at least in what you posted.

Re: Need to do some pruning

SunriseEarth — Tue, 19 Nov 2013 09:46:36 GMT

@Revelate wrote:
You have 7 or 8 tradelines (didn't count specifically) any reason you want to prune them back? That's prettty typical honestly, and unless it's an unused card which your'e paying a fee on (that you care about) there's no real need to close it unless you find yourself struggling to manage the cards you do have. FICO-wise it's more to your benefit to keep them open.

End of the day it's a penalty to reopen a former tradeline; if certain of those cards aren't working for you, consider swapping them to a card that does as you have a number of solid lenders in the list. The Wally card is fine as a tradeline farm, $0 AF, FICO score, and usable as general purpose card given the absurd product range Walmart has access to.

It's your call, but personally I don't see much upside to it at least in what you posted.

+1. PC to CCs that meet your needs better and SD the rest.