Advice for a Newbie.... Getting Away from USAA Secured Credit Card, Among Other Things

[Anonymous]

To garden is a great plan! Do you have an emergency fund? If not I would consider using some of the 5k to establish one moving foward. 

[Anonymous]

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@Anonymous wrote:

Should I keep the USAA Rate Advantage or close it?  I have no use for it other than having more credit limit.

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I don't see a reason to close it. It's got a bit of a lower rate, always nice to have that around, plus it's one of your (somewhat) older cards. Just sock-drawer it. 

[Anonymous]

I think it was a secured card that he had 5k tied up in.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Should I keep the USAA Rate Advantage or close it?  I have no use for it other than having more credit limit.

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I don't see a reason to close it. It's got a bit of a lower rate, always nice to have that around, plus it's one of your (somewhat) older cards. Just sock-drawer it. 

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You're right! Besides, from what I have been reading, USAA is one of more consumer-safe banks (won't balance chase or close down accounts unless there are derogatories) compared to the likes of Chase, AmEx, and Synchrony. 

[Anonymous]

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@Anonymous wrote:

I think it was a secured card that he had 5k tied up in.

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Yes, I am planning to close that card tomorrow. So once that's done, I will have over 12K in savings by July.

Definitely going to garden for the next 2-3 years because I am a low monthly spender and I have more CL than I know what to do with (37.5K relative to 1100 in monthly rent + expenses).

Just wanted to build a thicker file + build AAOA with multiple accounts because I plan to get an advanced degree in business within the next few years (adding on an installment loan). Probably a bit convoluted, ha!