Closed 4 accounts today left with 1.

[kdm31091]

Yes my original verbiage was an error but again not everyone cares to eek out every possible point. That's all. Anyway the OP did what they were comfortable with and good for them.

[Anonymous]

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@core wrote:

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@Anonymous wrote:

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@kdm31091 wrote:
I don't think you need 3+ cards to maximize FICO.

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This contradicts everything publicly posted about Maximizing FICO scores.

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Agreed.  With 1-2 cards you cannot avoid both the 50% with balances penalty and the 0% with balances penalty at the same time.  It is impossible.  The number is not "1+ cards", not "2-3 cards", it is "3+".  Full stop.

The exchange quoted above is usually how it goes.  Someone says you don't need 3 cards to "maximize" fico.  The mistake is pointed out and then the language changes to "well I didn't mean 'maximize', I just meant 'good enough' ", and then often to "whatever works for the cardholder is best for them".  Which of course is all mostly true but it doesn't change the fact that the original statement was in error.

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Exactamundo, This is what I had in mind when I pointed that out.

[Anonymous]

I know I might not have 850 FICO's, best rewards, not a popular thing to do, but most importantly I will have peace of mind.

[Anonymous]

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@Anonymous wrote:

I know I might not have 850 FICO's, best rewards, not a popular thing to do, but most importantly I will have peace of mind.

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That's all that matters.  

[Anonymous]

Barclay ring and some credit unions have very low APR. Rewards cards suck when you carry balance and pay interest. What's 1.5% when your paying 15% APR.

[core]

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@Anonymous wrote:

I know I might not have 850 FICO's, best rewards, not a popular thing to do, but most importantly I will have peace of mind.

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I think you will have even better peace of mind if you close the Cap One card too. 

[Anonymous]

Lol... So....If any others of you here had to pick one card....

[Anonymous]

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@Anonymous wrote:
Lol... So....If any others of you here had to pick one card....

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Seems like a myFICO version of that game...kill, marry, and, well, the other choice.

Marry Double Cash, kill Capital One, and....both Sallies for "the other choice."

[Anonymous]

I like it.

[Anonymous]

I would probably keep the DC and hang onto the two Sallies.  Then I think i would retain the BoA card and I like Cap 1 so I'd keep the QS.  I'm never prone to close.  I can juggle them all until I hit 18 accounts.  That's only 3-4 cards with 5 lenders.  5 online accounts to manage with all the due dates set to the 9th or 23rd and mint to help.  No worries.  Then once I get a car loan and a LOC from my CU my profile will be well rounded like Santa Claus.