Understanding the process

Anonymous — Thu, 05 Dec 2013 16:08:31 GMT

My limited understanding is almost exclusively the result of these forums, and I want to understand what I should expect.

With a 652 score, 2 baddies, only one late pm, lots of student loans in deferrment, and no cards at the time, I started applying & got my first bunch of cards. Walmart $400, Amazon $600, Capitol One Journey $300, Cap One secured $200 (can deposit more & increase), Discover It secured $200, and 3 retail cards from the shopping cart trick, $250 each.

So I'm gardening, but wondering about the next steps. I'll put small additional deposits on the Cap One secured ($50 a month) to raise the limit & hope to encourage auto CLIs. And after the 4 months, I'll ask Walmart & Amazon for CLIs.

I'm wondering, since the goal is a small ratio of available credit to actual debt, and AAoA, does it make sense eventually (6 months to a year) to get rid of the 3 little retail cards if I can replace with "real" cards of sizeable limits? I would think that if I am keeping essentially the same limit, getting rid of some newer accounts will increase my AAoA which is now around 15 years. Thoughts?

topic Understanding the process in Credit Cards

Understanding the process