Closed a few SYNCB accounts!!!

[Ron1]

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@Dalmus wrote:

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@Ron1 wrote:

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Ron.

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I'd say close them both, since they're redundant to BR Visa.   All will accumulate rewards at the Gap family of stores, so you only need one.  

As for Amazon, I really like their special promo financing.   If you don't need that, then it could close.  I use SallieMae at Amazon, except when using special financing

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Thanks for your advice!!! I am thinking the same thing. I usually use Amazon Visa at Amazon to earn rewards.

Ron.

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 If that's the only place you use the Amazon Visa, I would suggest you keep the store card instead.  The Amazon Prime store card earns 5% while the Visa only earns 3%.

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I don't have Amazon Prime yet. So my Amazon card doesn't have any 5% yet.

Ron.

[Ron1]

I just added all my Synchrony credit cards accounts. It came up $96K. I think it is barely under $100K. My Citgo Credit card will become Synchrony Credit card later this month. It wull be fine. I should be ok and under the radar if I don't ask for any more CLI or any additonal cards. I am still thinking to close both Gap and OLd Navy. Not right now. I don't want my score to take a big hit. I might close it next couple of months.  I already posted my exceed exposure limit with Synchrony in another thread.

Ron.

[Anonymous]

I have always heard that when you close accounts is hurts your credit score. Is that true. 

[Dalmus]

The only thing that choosing an account will do is reduce the amount of your available credit. Depending on how much of a balance you currently carry, that COULD lower your score if that raises your utilization significantly.

[woodyman100]

DW has the Amazon prime store card. We buy everything through it. The automatic 5% is worth it.
I had the Chase Amazon and found it not very useful. DE has it as well and I have find some way to keep it active every couple of months

[woodyman100]

Sorry, I should have read the entire thread. I didn't realize that Amazon was already discussed. I will be quiet now

[Ron1]

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@woodyman100 wrote:
Sorry, I should have read the entire thread. I didn't realize that Amazon was already discussed. I will be quiet now

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Thanks for the advice!!!

Ron.