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Any suggestions or comments?

New Member

Any suggestions or comments?

Hello all,


I have been a long time stalker of this forum but just decided to post about my credit profile. I have 11 total accounts out of the 11 only 8 of them are currently opened. I don't like having any of the charge cards simply because they are mostly a waste to me - they don't give rewards, cash back or low interest - I haven't used them in a few years. I know closing them will higher my util but I don't see a point in keeping them opened when I will most likely never use them again. I will list my current opened accounts and would like peoples comments on what I should do:


HSBC/BestBuy - Opened 4/2008 - $0 bal - opened to finance a TV for 0% 48/mos
Chase Freedom Visa - Opened 8/2007 - $0 bal - opened as a cash back card upgrade from my Cap1 that was my first CC in 2006.
GEMB/PayPal MC - Opened 8/2010 - $0 bal - opened to lower util from AMEX charge
Discover Card - Opened 1/2011 - $0 bal - opened simply because I wanted a discover card. Smiley Very Happy
Cap One Visa - Opened 12/2006 - $0 bal - was my first CC that got my into building / establishing my credit
Cap One MC - Opened 3/2009 - $0 bal - opened to lower util rate from original cap1
AMEX Gold Card - Opened 4/2010 - $2242 bal - opened because I was tired of getting restricted by CL's and wanted my an amex
Web Bank/DFS - Opened 5/2009 - $0 bal - was planning on using this to get a laptop with 0% finance but I decided to get a mac instead so was never used


My current EQ FICO is 720 have not pulled TU FICO in a while but it was last 692.


Does anyone think I should close any currently opened accounts? I am only 22 and I think 8 may seem as a high number for my age? I try to keep my util low it is currently 12%. I'm mostly leaning towards wanting to close the Dell Financal Services account as well as GEMB PayPal? It's a sub-prime card to me and don't want it really.


The reasons stated above are why I opened each account.


Thanks for your comments and opinions!


Best regards,


Message 1 of 4
Valued Contributor

Re: Any suggestions or comments?

8 aren't too many unless you think it is.  It's really up to you.  What are you credit limites (CLs) for all of them and do any of them have an annual fee (AF)?

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800

Starting Score: 648
Current Score: 736
Goal Score: 765

Take the FICO Fitness Challenge

Message 2 of 4
New Member

Re: Any suggestions or comments?

Read that IE9 doesn't work well with this site for the time being, thought it was just me.


None of my cards have an annual fee with the exception of the obvious AMEX charge.


AMEX - at least $4000

Cap1 Visa - $2500

Cap1 MC - $1000

Chase Visa - $2600

Discover - $2000

GEMB/PP - $4520

HSBC/BBY - $3200

Web Bank/DFS - $2000

Message 3 of 4
New Member

Re: Any suggestions or comments?

Figured maybe I should bump this in case no one notices that I have updated my post.

Message 4 of 4