topic Are little credit line credit cards worth keeping? in General Credit Topics

Are little credit line credit cards worth keeping?

Anonymous — Mon, 27 Apr 2009 22:48:31 GMT

I seen to have a bunch of little credit cards and i wondered if they were worth anything to keep and not close. Old Navy was $500 limit than when I paid it off it went to a $100 limit. Same is true with my $300 Walmart card down to $100 limit, Lane Bryant and JcPenneys the same. The credit line decreases from GE Money Bank ( I think it was called) killed my store credit cards available credit. My store cards are all probably less than 3 years old.

My credit report is fianlly starting to take shape. A GW letter worked today on my lates on my Paypal Plus credit card and my Wells Fargo Slumberland acct. There is promise. Oh ya - thanks a bunch- I couldn't have done it without this forum. My credit isn't perfect yet- but I feel like it will get better.

Re: Are little credit line credit cards worth keeping?

Anonymous — Mon, 27 Apr 2009 22:56:05 GMT

I also meant to add- doesn't having TOO many cards go against a person as well? Just curious on your thoughts on getting rid of the little ones. When I looked back all my GEMB credit cards have credit line decreases. The store ones the worst.

Re: Are little credit line credit cards worth keeping?

Cinnnamon — Tue, 28 Apr 2009 07:44:59 GMT

DON'T CLOSE Any ACCOUNTS. Pay them all off and it builds credit as you keep them. When a creditor closed the accounts, it looks bad on you. But when you close any accounts, it looks better than having the creditor closed your accounts. Keep you accounts and with a $ o balance. Shows that you are good at keeping your balances low and shows responsibility in getting more credit with higher cl in the future.