Closing multiple credit card accounts?

[BigBS]

Yeah, I never really considered the Lowes or Home Depot cards much, but since I spend lots of time in there for things around house/yard probably a good one to have.  Also, have seen how fast they grow and the different 0% offers they have I would definitely keep it.

[tattooedhusker]

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@JMMD wrote:

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@SunriseEarth wrote:

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@JMMD wrote:

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@BootStraps wrote:

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@tattooedhusker wrote:

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@JMMD wrote:

Thank you both. I think I am going to close the Lowes, JCPenny, Dressbarn My amazon and focus on building the other cards up instead. I appreciate the help!

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I would consider keeping the Lowes card open, it is a pretty quick grower and could be the bridge to higher limits down the line

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+1

Home improvement store cards are also very useful when you own a house...

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I did close it for right now. I am going to try to use the visa more often and if we need anything at Lowes, I can just use that. I'd love to see thie visa get a CLI as it's through the bank we hope to use when we do buy a home.

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Yeah, I'd agree closing that one was a mistake.  Doesn't Lowes have a 5% discount for using their card?  That would match or beat most cash back cards.

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Oh shoot.

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5% off or special financing options. I would call and see if you could get the card reopened.

[tattooedhusker]

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@BigBS wrote:

Yeah, I never really considered the Lowes or Home Depot cards much, but since I spend lots of time in there for things around house/yard probably a good one to have.  Also, have seen how fast they grow and the different 0% offers they have I would definitely keep it.

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0% financing helped me tremendously when I put in my hardwood floors

[BigBS]

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@tattooedhusker wrote:

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@BigBS wrote:

Yeah, I never really considered the Lowes or Home Depot cards much, but since I spend lots of time in there for things around house/yard probably a good one to have.  Also, have seen how fast they grow and the different 0% offers they have I would definitely keep it.

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0% financing helped me tremendously when I put in my hardwood floors

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I'm having a new wood fence put up around my yard and considered leaving the garden to get one of their cards for the 0% deals.

[tattooedhusker]

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@BigBS wrote:

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@tattooedhusker wrote:

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@BigBS wrote:

Yeah, I never really considered the Lowes or Home Depot cards much, but since I spend lots of time in there for things around house/yard probably a good one to have.  Also, have seen how fast they grow and the different 0% offers they have I would definitely keep it.

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0% financing helped me tremendously when I put in my hardwood floors

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I'm having a new wood fence put up around my yard and considered leaving the garden to get one of their cards for the 0% deals.

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I would say that this card is almost a "must have" for homeowners

[SunriseEarth]

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@JMMD wrote:

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@SunriseEarth wrote:

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@JMMD wrote:

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@BootStraps wrote:

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@tattooedhusker wrote:

---

@JMMD wrote:

Thank you both. I think I am going to close the Lowes, JCPenny, Dressbarn My amazon and focus on building the other cards up instead. I appreciate the help!

---

I would consider keeping the Lowes card open, it is a pretty quick grower and could be the bridge to higher limits down the line

---

+1

Home improvement store cards are also very useful when you own a house...

---

I did close it for right now. I am going to try to use the visa more often and if we need anything at Lowes, I can just use that. I'd love to see thie visa get a CLI as it's through the bank we hope to use when we do buy a home.

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Yeah, I'd agree closing that one was a mistake.  Doesn't Lowes have a 5% discount for using their card?  That would match or beat most cash back cards.

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Oh shoot.

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I'd call back on that one and see if you can undo the request to close the account.  

[sunni_one]

+1 on the Lowes, but I would also consider keeping the JCP account.  They have nice things for the home and the card will definitely grow with you.  Mine went from $1,900 to $7,500 in 5 years with just auto CLIs.

I wish that I had kept a bunch of the accounts I closed 10 years ago after paying them off.  The benefit of those aged accounts would really benefit me now.  In a few months, they will be dropping off of my report , so I may lose some points as a result.  When my car loan dropped off (after 10 years reporting as a paid loan) my score dropped 30 points, ouch...that hurt!