Closing a card

[Anonymous]

I have 3 Chase cards.  The most recent one opened last month.  I was told my chase that I can pay off the balances on two, close them and have the CL's transferred to the one card.  I was going to do this and combine the CL's to the oldest chase card.  Does that make sense to do?

[Anonymous]

Can you see any benefit to keeping all three?What are the CLs? What are the APRs? how many other credit cards do you have?

If you can't see any benefit and if you have other credit then I'd combine them all to the card that has the oldest age and make sure that the card you are left with has your best APR.

[Anonymous]

-The CL's are listed by age of the cards: $600, $6,000, $7,500

-The best APR is on the 2nd card, however the oldest card has the highest APR.

 -I have one other card with a $300 CL that I keep at $0.  I spend $5 every other month and pay it right away to show its in use. My purpose of keeping this card is because it is the oldest.

-I have a Macy's card with a $50 balance.

-I also have a bike through a revolving line with Suzuki HSBC retail services. It is maxed out but about to be paid in full.  I am unsure how that counts towards my total CL of all my cards.

[Anonymous]

ok taking that information into account, I would not combine the account just yet. reason being that you have so few cards as is. I might combine the $600 with the $6,000 otherwise I say leave them be until you have a little more credit, then if you want to combine them feel free.

I'm sure others will chime in with advice.

[Anonymous]

Agree with dizzier. You file looks a little thin, and I think I'd keep all my chase tradelines open. If I was thinking of closing anything, it would be that card with the $300 limit. Sounds like it's one of those rebuilder cards with monthly fees and a high APR. When you say that card is your oldest, how old is old? How old are the Chase cards?

Keep the Macys.

[Anonymous]

The $300 dollar card is 5 years old.  It has a $50 annual fee. My oldest Chase card is 3 years old which is the card with the $600 limit.

[Anonymous]

Who is the $300 card's issuer?

Message Edited by psychic on 12-04-2008 11:58 AM

[Anonymous]

Orchard Bank

[Anonymous]

Subprime or Fee Harvaster offers Tribute Gold Mastercard from variety of bad credit cards. Offering annual fee of $ 150.

Message Edited by JeffKaden on 12-05-2008 04:00 AM