@Anonymous wrote:
One of the monitoring services that names factors that hurt and factors that help. One of the hurt factors was that my average credit limit is low.
That's a Vantage Score item, not FICO.
Yes, you're right. i am working on getting all of scores to 750+ including FICO, EQ, EX, and TU. 
they all matter to someone.
they all matter to someone.
@Anonymous wrote:
Yes, you're right. i am working on getting all of scores to 750+ including FICO, EQ, EX, and TU.
Well, what is keeping your scores in the 600's is not the average CL on your accounts, it is whatever drove the score to 505 originally, which has not dropped off yet.
All the apps for the store cards probably doesn't help either, so if you want to close some, have at the FH, and the rest of the store cards.
Even if a $5,000 average were to help a FICO score (and it won't), there aren't any cards in the siggy over $5k, so it's rather an early time to try to make that average, no?
You are on the right path anyway to get to your goal, whether you decide to close cards or not. Your's is a time game, waiting game only. Good luck!
Yes you're right. The $5000 is a long term goal. Short term is $1500 average. I plan to close some accounts but I don't want to act too hastily because I don't know enough about whether I should or shouldn't. I'm definitely going to close the Fingerhut account. It's one of the lowest limits and I know for sure I will never use it. It was senseless to even accept that one.
I have several COs coming off between this month and March 2016. They have been paid off for several years now.
I do have 2 credit cards at $5,000...so I have a ways to go. I just want to take all the steps I can in the right direction.
I have several COs coming off between this month and March 2016. They have been paid off for several years now.
I do have 2 credit cards at $5,000...so I have a ways to go. I just want to take all the steps I can in the right direction.
@Anonymous wrote:
Yes you're right. The $5000 is a long term goal. Short term is $1500 average. I plan to close some accounts but I don't want to act too hastily because I don't know enough about whether I should or shouldn't. I'm definitely going to close the Fingerhut account. It's one of the lowest limits and I know for sure I will never use it. It was senseless to even accept that one.
I have several COs coming off between this month and March 2016. They have been paid off for several years now.
I do have 2 credit cards at $5,000...so I have a ways to go. I just want to take all the steps I can in the right direction.
There's your Garden Until Date, April 2016. No more apps for anything until then. You've got enough regular credit cards to get anything you need. It's only 10 months to wait, and your results will be so extremely much better after April 2016.
@Anonymous wrote:
I don't plan to apply for any new lines of credit but do you mean do not apply for CLIs either? Some people who garden recommend SP increases.
App away for all SP CLI's you can get while gardening 
@Anonymous wrote:
I don't plan to apply for any new lines of credit but do you mean do not apply for CLIs either? Some people who garden recommend SP increases.
SP CLI are fine of course. I'm talking anything that involves a HP.
And I'd also suggest taking this opportunity now to close something like half or more of your store cards. Doing that now will get those "available credit" blockages off your account by the time April rolls around. I believe that having the "available credit" on all those store cards is going to confuse the bank algorithms that look at your file, and lower your granted SL, thus my recommendation to get them off your file now. I also am a believer that one should only have cards that make sense for the long term, and close those that do not meet the long term usefulness hurdle. That is most store cards, unless the cardholder uses that store card regularly.
Here's what I'd cut, if this were my file: I'm leaving the three gas cards because I don't know which two you use most, you should close one of those. Leaving the major department stores, so you need to pick one or two of those you actually shop at regularly and close the other department stores.
Cut HSN with extreme prejudice. That's like the worst way in the world to make good buying decisions... a time limited offer.
Barclay Rewards $1300 Chase Freedom: $700 Chase $2000 Merrick $1200 Show MC $1000 First Natl CC $1000 Blaze MC $750 Cap1 Quiksilver $800 Discover It $200 Best Buy $1500 Lowes $2600 Amazon store- $5000 AE $900 Buckle $2050 VS $1850 LOFT $800 Express $1350 JCP $2100 Kohls $1500 Gardner White $2850 Bloomingdales $2000 Macy's $2500 HSN $1350 The Limited $850 Carsons $250 NYCo $800 Banana Republic $700 Gap $400 Old Navy $400 TJ Max $600 Walmart $1500 Meijer $630 Lord and Taylor $600 Target $200 ToysRUs $1000 Care Credit $5100 Mobil $500 Marathon $1350 Speedway $400 Abercrombie $250 Fingerhut $300