What do you recomend be my next step?

[creditconcept]

Hello All,
Currently I have:

BoA Cash Rewards $3,000
Chase Freedom $3,000
Discover $1000
Capital One Quicksilver $1,250

I am thinking about closing the CapOne and the Discover and going for a BCE so I will have 3 cards at $3,000 do you all think I have a reasonable shot at getting a starting limit of $3,000?

Fico 736/
Util 1% $49/8250
AAOA: 1yr 2mths
7 inquiries, 5 from 2013 (most recent 10/18)
5 accounts reporting (4 CC, 1 installer)

If not, what do you recommend be my next step, my overall goal is $9,000 total limits and only 3 accounts, I can't manage 4 cards, never using 3 of them! But am also not oppsoed to having more than 4 and just not using them for the added benefits.
Let Me Know!

[Anonymous]

I would say that if your score is accurate (remember AMEX usually pulls EX) then you have a good chance at the BCE.  Why do you want to close the Cap One card?  You already have a low AAoA so closing any card you have right now and opening a new one is going to really hurt AAoA

[Creditaddict]

I think the amex would be a great idea... not sure if I would close discover because of the rotating 5% but if 3 cards is your goal then i think your plan is great.

[Anonymous]

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@Anonymous wrote:

I would say that if your score is accurate (remember AMEX usually pulls EX) then you have a good chance at the BCE.  Why do you want to close the Cap One card?  You already have a low AAoA so closing any card you have right now and opening a new one is going to really hurt AAoA

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Closing a credit card won't hurt his AAoA for 10 years (when it drops off your credit report). Opening a new card will hurt his AAoA. I do agree though that there is no reason to close the Cap One/Discover cards unless it has an AF. Just SD it and forget it and it will eventually close. Or better yet, charge a small transaction to it every 6 months. No reason to close a no AF fee card until you have a thicker and older credit file. Eventually you might want to close a card to make management easier (10 or 20+ cards that are unused can take time to go over each month though with online banking and other personal finance/budgeting software it is not too hard to track). 

[creditconcept]

Awesome, thanks. My issue is that capone will not budge on the $19 AF, but it is my oldest card at 2years so I guess cost/benefit it is worth it to just keep it open. I would like an Amex, but

[Anonymous]

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@creditconcept wrote:
Awesome, thanks. My issue is that capone will not budge on the $19 AF, but it is my oldest card at 2years so I guess cost/benefit it is worth it to just keep it open. I would like an Amex, but

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Honestly. $19 isn't that bad. $1.58/month.

That's a starbucks drink every 3-4 months.

BTW, that doesn't mean I don't think you should bother with it, but if they won't initially, It's nothing to be in a hurry about.

$39 however....

[Anonymous]

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@creditconcept wrote:
Awesome, thanks. My issue is that capone will not budge on the $19 AF, but it is my oldest card at 2years so I guess cost/benefit it is worth it to just keep it open. I would like an Amex, but

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the quicksilver has NO annual fee, i know the platinum has a $19 annual fee.... http://www.creditcards.org/capital-one/capital-one-platinum-credit-card

[Anonymous]

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@creditconcept wrote:
Hello All,
Currently I have:

BoA Cash Rewards $3,000
Chase Freedom $3,000
Discover $1000
Capital One Quicksilver $1,250

I am thinking about closing the CapOne and the Discover and going for a BCE so I will have 3 cards at $3,000 do you all think I have a reasonable shot at getting a starting limit of $3,000?

Fico 736/
Util 1% $49/8250
AAOA: 1yr 2mths
7 inquiries, 5 from 2013 (most recent 10/18)
5 accounts reporting (4 CC, 1 installer)

If not, what do you recommend be my next step, my overall goal is $9,000 total limits and only 3 accounts, I can't manage 4 cards, never using 3 of them! But am also not oppsoed to having more than 4 and just not using them for the added benefits.
Let Me Know!

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anyways, i feel your pain about paying almost $20 a year for a cap one card, all my cards have NO annual fee

[taxi818]

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@Anonymous wrote:

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@creditconcept wrote:
Awesome, thanks. My issue is that capone will not budge on the $19 AF, but it is my oldest card at 2years so I guess cost/benefit it is worth it to just keep it open. I would like an Amex, but

---

Honestly. $19 isn't that bad. $1.58/month.

That's a starbucks drink every 3-4 months.

BTW, that doesn't mean I don't think you should bother with it, but if they won't initially, It's nothing to be in a hurry about.

$39 however....

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I agree so small price to get to excellent mark. I think my total AFs per year now is about300 plus.  No big deal.