@lakelife16 wrote:Hi everyone!
i need some advice regarding secured cards. My oldest card is a secured card with a 200 limit, perfect history for about 3.5 years. That was the first card on my report for a long time. Back in Jan/Feb, I had opened up an OpenSky card with a $250 limit. It's reported positively a couple months now. The real issue is since then, I have been approved for:
1) $2000 unsecured (reporting since Feb)
2) $1000 unsecured (reporting since Feb)
3) $6000 unsecured (not reporting yet)
4) $5000 unsecured (not reporting yet)
5) $5000 PLOC (not reporting yet)
6) $5000 unsecured (not reporting yet)
7) $4500 store card (reporting since Feb)
8) $1100 store card (reporting since Feb)
Will having these lower limit cards look bad at this point? If i would've known about the upcoming approvals, I wouldn't have opened OpenSky. My oldest card though, I believe I need to keep because it's my oldest revolving account, correct?
Will closing OpenSky help my AAoA?
Any help would be greatly appreciated! Thank you so much for your help.
Will closing OpenSky help my AAoA?
Don't worry about AAoA with regard to 'this' account' that isn't worth your concern...let's face it you've opened 8 accounts since Jan.
this one ain't gonna be the clincher 
The reason you KILL this sucker is b/c it's a B.S. 'builder-card' that YOU don't 'need' at this point...get your money back...you've earned 'better'...
that's why you should close it.
Will having these lower limit cards look bad at this point?
Again don't fret over the small stuff...we already went over why to shoot the OpenSky account in the back of the head.
You keep the 'old' small CL secured card due to AAoA purposes and that's ONLY b/c somebody 'should' have advised you not to WAIT so long allowing just the one
card to age...by itself
Meaning if you close it now.....you have no age, ZERO, you'd have an average age in 'days' not months b/c you've got 4 reporting 3 months at best if they've done April yet and 4 not reporting at all.
No big deal btw ( I joke around a lot...just ribbing not taunting, read my past post..again jk)
So had you apped for a card say a year or 2 ago
a) you could kill the low CL secured card &
b) of course the limit of 'that' card would most likely have been more than $200 ( this info is to illustrate for the 'next' person what can be done instead)
again no biggie.... here's what the OP sould do IMO.....
Go keep the old secured card b/c it's your ONLY aged account sock draw it....if it has no AF, just let it roll (if it has a AF request a waiver or at least a reduced fee,
you've had it long enough that they should at least do that (assuming it's a company that won't unsecure it like Cap1 prehaps?)
Anyway...I'd hold on to it AT LEAST another year.....until these new accounts are aged at least a year themselves...I'd prefer 2
Will having these lower limit cards look bad at this point?
Freak 'vanity' allow your large CL's to age and show you can manage them....you've got THOUSANDS of dollars in CL's....so what you have, an 'odd'
ball among the mix.
The COMPUTER doesn't give a crap, that's a human being VANITY issue that this point....
Going forward it's not, again WORTH your concern....focus on managing the very nice CL's you have now and let them age....at this point, as far as unsecured debt
you should 'chill out' and 'prove' yourself worthy with what you have...the only 'real' thing that can help your credit now is managing these acounts over TIME...and that takes TIME.
I can't see why you'd app for anything else other than a secured loan ie. car/house......
I'd be ok with using those funds from OpenSky towards getting a secured PL on your report to add to your credit mix (only if you don't have or plan on a car/mortgage reporting, soon)
other than that I wouldn't app until those accounts are at least a year old (outside of SP CLI's of course)