Approved for BJ's Perks MC - 1st Non-Subprime card!!

[hpotterfan77]

I'm in complete shock.  I've been working hard the last 8 month to pay off all my old debt from 3 years ago.  My credit  scores are finally reporting only current stuff for the most part with no delinquent balances and today, I got a pre-approval for the BJ's perks MC so I pulled the trigger and bam, approved for $1K SL which is fine with me.  Highest limit non-store card!  I'm so excited!  I'm wondering though now if I should close my Total Visa card.  It's one of my lowest limits.  It's 9 months old and will hit the annual fee mark in September.

[AllZero]

Congratulations on your approval!

[gdale6]

Good job on the rebuild, you are to be congratulated

[EverForward]

Congratulations on your BJ's Perks MC approval! 

[GApeachy]

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@hpotterfan77 wrote:

  I'm wondering though now if I should close my Total Visa card.  It's one of my lowest limits.  It's 9 months old and will hit the annual fee mark in September.

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If you do close that card be sure to check it monthly for a loooooooong time to make sure no fee(s) jump on there and undoes all your progress you worked so hard on.  Congrats to you!

[jmos]

Congrats on your approval!!

[hpotterfan77]

Yes, I've heard of the fee trap with them.  I just don't want it to hurt my credit if I close it.  I know it stays on your reports for 10 years but will closing it hurt?

[tbque]

Congrats on the BJ's Perks MC approval and continued success with the rebuild!

[blindambition]

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@hpotterfan77 wrote:

I'm in complete shock.  I've been working hard the last 8 month to pay off all my old debt from 3 years ago.  My credit  scores are finally reporting only current stuff for the most part with no delinquent balances and today, I got a pre-approval for the BJ's perks MC so I pulled the trigger and bam, approved for $1K SL which is fine with me.  Highest limit non-store card!  I'm so excited!  I'm wondering though now if I should close my Total Visa card.  It's one of my lowest limits.  It's 9 months old and will hit the annual fee mark in September.

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Congrats on your approval!! Your hard work is showing rewards!! 🏆 

[GApeachy]

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@hpotterfan77 wrote:

Yes, I've heard of the fee trap with them.  I just don't want it to hurt my credit if I close it.  I know it stays on your reports for 10 years but will closing it hurt?

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You are replacing a $300 limit with a $1000 limit and though the Visa is not very old I would suspect it will affect your age of open accts. but by how much idk, I wouldn't think a lot but I'm no expert here.  @Anonymous is who I turn to so "hello, hello" paging the BIRD