CC Approval! Close starter cards- Next card?

Anonymous · ‎04-23-2018

Hi Everyone! I want to close my Merrick (starter) Card and possibly my Capital One Secured but would like advice. Below is what I am currently working with! My goal is to get rid of the crappy cards and continue to build my profile. I had HORRIBLE credit 3/4 years ago. What do you think I can get approved for or should wait and try later? I am dying for a 0% bal transfer for my Cap one or the Citi Costco.

Store:

Victoria Secret (opened 07/16 CC $0/$1600

Ulta CC (opened 08/16) $0/$1000

Nord CC (opened 04/18) $0/$500 ***goal to ICL

Amazon (opened 07/16) $0/$700

Walmart (opened 02/17) $0/$900

Kohls (opened 11/17) $0/$300 ****Also considering closing this account

Care Credit (opened 07/17) $0/$1500

Credit Cards:

Amex BC (opened 04/18) $0/500 Was told to use card for 5 months and pay min balance and increase would be available.

Amex Everyday (opened 04/18) $60/500 Was told to use card for 5 months and pay min balance and increase would be available.

Capital One Secured (08/2014- $300 refundable deposit) $0/$600

Capital One Quicksilver (01/2015) $2300/$2600 paying more than min.

Merrick Bank CC (09/15) $0/$1200 I have to pay $4 a month for this stupid card and I think the annual fee is due Nov

Installment loan: $3900

Auth User with husband:

Discover (01/2018) $0/$7,000

Cap One Venture (05/2016) $0/$10,000

Kohls (12/2005) $1000/$2500

Mattress One (05/2016) $1392 of $10,000 but CL doesn't show on credit report

Student loan debt (a lot) paid to date

Starter scores: 450-500's

Current scores: FICO 8: Ex 652 - Eq 645 - Tu 653

Cap One Tu score 658

Credit Karma scores starter: 555 Feb 2018- Now Eq 671 Tu 658

Utilization 13%

10-13 inquires (3 falling off in next 3 months) (disputing 2 inquires no idea what they are)

2 to 5 collections on , EQ, EX, TU depending on the report all are 4-5 years old and I refuse to pay these- light bills, etc. associated with ex. 1 current medical collection that disputing- never got bill.

No missed payments

Anonymous · ‎04-23-2018

I forgot to add that I have a $0/$400 limit with Paypal

and closed 2 Premier cards with total CL $1500 last year.

Anonymous · ‎04-23-2018

Gretings!

I wouldn't close anything that didn't have an annual fee. Closing cards is going to raise your Utilzation and lower your scores. You also need to stop applying for more cards. Your cards are all low limit. You need to pay down the card with the highest UT and then work on getting limits increased.

Anonymous · ‎04-23-2018

I currently pay double on highest balance card. Any other card I use has $0 balance and is paid off same month.

The Merrick card has horrible Annual Fee and monthly fee...I am almost willing to take a step backwards on utilization (I am only at 13% now so not very worried).

ChessChik47 · ‎04-23-2018

@Anonymous wrote:
I currently pay double on highest balance card. Any other card I use has $0 balance and is paid off same month.

The Merrick card has horrible Annual Fee and monthly fee...I am almost willing to take a step backwards on utilization (I am only at 13% now so not very worried).

Hi and welcome! Close the cards that are not providing a benefit to you. I agree with the other poster that stated to stop applying for cards. You have plenty of cards to continue building your credit. You should definitely let your cards age and use them responsibly. Time is what you need to see your score increase. Good luck to you!