App Spree!

[mystikal1]

Congrats,,,Keep it up!

[Anonymous]

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@Anonymous wrote:

You will not take a hit on your score for closing the card. It does not lower your AAOA. It will stay on your reports for 10 years. Added new accounts will.

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Thank you so much for the clarification.

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[Anonymous]

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@Anonymous wrote:

First, I want to thank the wonderful people on this board for the great information and support that they provide. I have been a member for almost 1 year and have managed to bring my scores from a 550 to a decent 687.

I finally closed one of my starter cards from Wellsfargo *secured*  (it refused to budge...at all!) and I decided to come out of the garden and  apply for a few cards today, before my score takes a temporary hit for closing the WF card.  I was instantly approved for Discover IT- 3000.00, Amex (cash everyday)- 1800.00 and Chase Sapphire 5000.00! This is my first 5000.00 limit!! I am so excited. It is so nice to finally see my credit growing, and I owe alot to this board for the valuable information. Now, back to the garden I go!!

edited to correct spelling...

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Congratulations to you!...Thanks for sharing.

[Anonymous]

Well Done!

I, too, was in the rebuilding garden for a year or so.  I spreed a few months ago and also got some gret cards with very generous limits.  I LOVE amex and pretty much use it for everything.  I do have the EveryDay Preferred and basically use it as a debit card and pay it off weekly. 

Do you have any other types of credit? Car loan, mortgage or anything like that?  I saw my scores go higher after getting a car loan (after the initial hit for applications).

[Anonymous]

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@Anonymous wrote:

First, I want to thank the wonderful people on this board for the great information and support that they provide. I have been a member for almost 1 year and have managed to bring my scores from a 550 to a decent 687.

I finally closed one of my starter cards from Wellsfargo *secured*  (it refused to budge...at all!) and I decided to come out of the garden and  apply for a few cards today, before my score takes a temporary hit for closing the WF card.  I was instantly approved for Discover IT- 3000.00, Amex (cash everyday)- 1800.00 and Chase Sapphire 5000.00! This is my first 5000.00 limit!! I am so excited. It is so nice to finally see my credit growing, and I owe alot to this board for the valuable information. Now, back to the garden I go!!

edited to correct spelling...

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Congrats OP.

You should not take any hit from closing your WF secured card. Unless you had $10K limit on it When i closed mine couple months ago, it was maxed at $2500, so once it was paid off an closed, my scores actually went up a little because by closing it, i got rid $2500 debt. With the new cards added you ay see a drop in your AAoA, hence a small score drop, but the available credit on those cards shouldmake up for that drop. Also, don't forget that fico does not factor in your payment history on a new account until after 6 months. So 6 months down the road, you will see a better increase on your score. Congrats!

[Anonymous]

Wow, I'm so happy for you!  All those great approvals, and your scores are looking very good!  The Chase SL is awesome - enjoy all of your successes! 

[Vegas4Play]

Congrats to you !!!