topic Retiring Rebuilder Cards in Rebuilding Your Credit

Retiring Rebuilder Cards

Anonymous — Sun, 04 Oct 2015 02:03:04 GMT

I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?

Re: Retiring Rebuilder Cards

arn0822 — Sun, 04 Oct 2015 03:00:51 GMT

I would let the cards age at least one year. What is your reason for closing the cards so soon? You will lose the 600 total credit in your utlization unless you acquire a new card that is at least $600.

Re: Retiring Rebuilder Cards

9CLINE — Sun, 04 Oct 2015 03:29:55 GMT

my opinion is since you have other cards I would close those 2 if they have AF and/or fees associated w/ them and keep your train moving....
Good Luck !!!!!!!!

Re: Retiring Rebuilder Cards

CH-7-Mission-Accomplished — Sun, 04 Oct 2015 03:37:19 GMT

@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?

You want to have at least three bankcards, so you should apply and get approved for two Visa/MC's and then close the two starters. I would apply for two capital One cards in one session, and also apply for Barclay's and Discover.

As long as you get two major cards to replace the two you are dumping, you will be good.

Re: Retiring Rebuilder Cards

CH-7-Mission-Accomplished — Sun, 04 Oct 2015 03:38:22 GMT

@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?

I see you are in with Navy. Why don't you have the 15K line of credit attached to checking? They seem to give that to everybody who is in with them.

Re: Retiring Rebuilder Cards

Rebuilding69 — Sun, 04 Oct 2015 04:40:30 GMT

@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?
I see you are in with Navy. Why don't you have the 15K line of credit attached to checking? They seem to give that to everybody who is in with them.

I wish they give me a 15k ploc. They only gave me 500 ploc when I got my 5k cc with them. Was hoping they would at least match my cc amount.

Re: Retiring Rebuilder Cards

CH-7-Mission-Accomplished — Sun, 04 Oct 2015 04:50:28 GMT

@Rebuilding69 wrote:
@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?
I see you are in with Navy. Why don't you have the 15K line of credit attached to checking? They seem to give that to everybody who is in with them.
I wish they give me a 15k ploc. They only gave me 500 ploc when I got my 5k cc with them. Was hoping they would at least match my cc amount.

You should ask at least every three months. You will have that CC up to 20 or 25K and that LOC up to 15 within a year for sure. I have seen lots of reports like that on here with folks in a similar score range as you. They let you go from 0 to 50 very fast.

Re: Retiring Rebuilder Cards

Rebuilding69 — Sun, 04 Oct 2015 12:03:30 GMT

I put in a cli request online for 15k total, and the system borked out on me...said something went wrong. Had to call the 800 number & they said the request was there so I didnt need to put in another one, but they said I'd have to wait 4-6 hours for the analyst or something to come in & look at the request.

Not sure what that means...

Re: Retiring Rebuilder Cards

Anonymous — Sun, 04 Oct 2015 13:37:36 GMT

@Rebuilding69 wrote:
I put in a cli request online for 15k total, and the system borked out on me...said something went wrong. Had to call the 800 number & they said the request was there so I didnt need to put in another one, but they said I'd have to wait 4-6 hours for the analyst or something to come in & look at the request.

Not sure what that means...

I tried to ask for a cli for the max amount, thinking that they would counter offer, but I got some kind of error. So I'm going to wait until I get my utilization down before I ask for another increase from them.

Re: Retiring Rebuilder Cards

Anonymous — Sun, 04 Oct 2015 13:43:14 GMT

@arn0822 wrote:
I would let the cards age at least one year. What is your reason for closing the cards so soon? You will lose the 600 total credit in your utlization unless you acquire a new card that is at least $600.

I wouldn't close them until today or anything. It won't be quite a year, but they have outrageous fees as all rebuilders do. I would just like to avoid all of that and go with prime lenders. I would make sure that I at least get $600 or it would be pointless.

Re: Retiring Rebuilder Cards

Anonymous — Sun, 04 Oct 2015 13:45:33 GMT

@9CLINE wrote:
my opinion is since you have other cards I would close those 2 if they have AF and/or fees associated w/ them and keep your train moving....
Good Luck !!!!!!!!

Yes, they have annual fees and other monthly maintance fees associated with them. So I figured I would close them out before the year, but make sure I replace them with other cards of at least the same limit. If I'm making any kind of sense.

Re: Retiring Rebuilder Cards

Anonymous — Sun, 04 Oct 2015 13:47:04 GMT

@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?
You want to have at least three bankcards, so you should apply and get approved for two Visa/MC's and then close the two starters. I would apply for two capital One cards in one session, and also apply for Barclay's and Discover.

As long as you get two major cards to replace the two you are dumping, you will be good.

Thanks! I was wondering was I making any sense. Lol. That's my plan.

Re: Retiring Rebuilder Cards

Anonymous — Sun, 04 Oct 2015 13:48:41 GMT

@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?
I see you are in with Navy. Why don't you have the 15K line of credit attached to checking? They seem to give that to everybody who is in with them.

I never thought to app for that. I wonder would I even get approved. I'll look into that as well as am paying off cards.

Re: Retiring Rebuilder Cards

Anonymous — Sun, 04 Oct 2015 14:01:34 GMT

@CH-7-Mission-Accomplished wrote:
@Rebuilding69 wrote:
@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?
I see you are in with Navy. Why don't you have the 15K line of credit attached to checking? They seem to give that to everybody who is in with them.
I wish they give me a 15k ploc. They only gave me 500 ploc when I got my 5k cc with them. Was hoping they would at least match my cc amount.
You should ask at least every three months. You will have that CC up to 20 or 25K and that LOC up to 15 within a year for sure. I have seen lots of reports like that on here with folks in a similar score range as you. They let you go from 0 to 50 very fast.

I think my scores may need to be a little higher before I apply for the ploc.

Re: Retiring Rebuilder Cards

CH-7-Mission-Accomplished — Sun, 04 Oct 2015 14:46:33 GMT

@Anonymous wrote:
@CH-7-Mission-Accomplished wrote:
@Rebuilding69 wrote:
@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:
I'm in the process of paying all my cards off. 2 of them are rebuilders (credit one and total). I just opened them this year. When would be a good time to get rid of those cards or should I keep them for AAoA purposes? Should I pay off cards and app for a better card such as capital one and then cut them off?
I see you are in with Navy. Why don't you have the 15K line of credit attached to checking? They seem to give that to everybody who is in with them.
I wish they give me a 15k ploc. They only gave me 500 ploc when I got my 5k cc with them. Was hoping they would at least match my cc amount.
You should ask at least every three months. You will have that CC up to 20 or 25K and that LOC up to 15 within a year for sure. I have seen lots of reports like that on here with folks in a similar score range as you. They let you go from 0 to 50 very fast.
I think my scores may need to be a little higher before I apply for the ploc.

When did you get your NFCU credit card? I believe they may use the same pull for like 30 days. Others should confirm or deny this.

Re: Retiring Rebuilder Cards

Rebuilding69 — Mon, 05 Oct 2015 00:53:28 GMT

I called back after the 4-6 hours, & they said I'd have to call back in the morning to get the answer. I guess NFCU doesn't work weekends(kidding).

Re: Retiring Rebuilder Cards

Anonymous — Mon, 05 Oct 2015 02:01:37 GMT

I got my NFCU cc back in February or March.