My husband has an Overstock card that we obtained using the SCT around this past December. He has yet to use this card. We don't shop at overstock. We honestly just did it because we wanted to increase his available credit. 
The CL is only 450 anyway. Will it be harmful to close it now that he was approved for amex for 2500?
I made the same mistake with a jcrew card and only received 250. The SCT is vicious. LOL
I just looked on Overstock, and there isn't anything interesting. So I won't be able to get to the SCT there.
I have many closed accounts, so I have to vote that there is no negative from closing an account.
@Anonymous wrote:Take your time. You just got the cards. Both those cards have high cli potential. Maybe in the near future make a SMALL purchase on Overstock like some kitchen towels or a blouse. Let it post then pay it off. Try the cli in May or June. Go to a J Crew store and do the same thing. Every store that you normally don't shop at has SOMETHING to buy in order to work the system and not break the bank.
See where you guys' scores are in 3 months, 6 months, and by Christmas doing that.
I got an Overstock card with a $500 limit several weeks ago and was declined for the cli due to high utilization. Now after $8000 in new accounts and some lower balances are showing up I am under 40% working towards 30. Once I see if AmEx will 3x cli me in 30 days and if FNBO will raise my moms limit where I am an au, then I will try some new options.
On a weak file (weak meaning scores in the 600's and CL's not high enough to accommodate a decent level of spending without raising utilization well over industry standards) I personally would not close any cards. Just give them some time.
I'm only about $1000-$1300 away from a 29% utilization. That is the only reason I applied for Overstock. I have not charged on it yet but will make a token purchase next month.
Yes, I think you are right. I should probably wait to see if they will increase it more. My husbands scores are all in the low 700s and his utilization is 8% that's why I felt like maybe the overstock card was useless at this point. But there's no AF I guess I can just leave it there.
Congratulations to you both. Ignore the anal comments you've received. The ones who make them think they're above everyone else on this forum. Nobody knows another's story. Nobody knows EVERYTHING there is to know about credit card companies, credit bureaus, etc. That's been proven. You've gotten the second chance that everyone deserves. 
@Creditobsessed12 wrote:
@Anonymous wrote:Take your time. You just got the cards. Both those cards have high cli potential. Maybe in the near future make a SMALL purchase on Overstock like some kitchen towels or a blouse. Let it post then pay it off. Try the cli in May or June. Go to a J Crew store and do the same thing. Every store that you normally don't shop at has SOMETHING to buy in order to work the system and not break the bank.
See where you guys' scores are in 3 months, 6 months, and by Christmas doing that.
I got an Overstock card with a $500 limit several weeks ago and was declined for the cli due to high utilization. Now after $8000 in new accounts and some lower balances are showing up I am under 40% working towards 30. Once I see if AmEx will 3x cli me in 30 days and if FNBO will raise my moms limit where I am an au, then I will try some new options.
On a weak file (weak meaning scores in the 600's and CL's not high enough to accommodate a decent level of spending without raising utilization well over industry standards) I personally would not close any cards. Just give them some time.
I'm only about $1000-$1300 away from a 29% utilization. That is the only reason I applied for Overstock. I have not charged on it yet but will make a token purchase next month.
Yes, I think you are right. I should probably wait to see if they will increase it more. My husbands scores are all in the low 700s and his utilization is 8% that's why I felt like maybe the overstock card was useless at this point. But there's no AF I guess I can just leave it there.
You are absolutely right! Thank you! 