Ditching the low limit cards

[pazuzu]

Now that I have several accts with $6K+ limits, I am going to close the low hanging fruit:

Merrick Bank     $2650

Cap One Orbtiz  $2000

Cap One MTV    $500

These accts are unnecessary. I've hardly used them b/c of the low CLs. Doesn't take much spending to drive up the util % on them.

Also, I acquired too many store cards while I was reestablishing my creditworthiness post BK.

I did a purge in 2011, axing Amazon, Kohl's, Meijer, WalMart, HSN, and QVC.

And I closed Fingerhut this yr.

I still have JCPenney, Neiman Marcus, and Sears. Those are my only current store cards.

  Cleaning up my credit clutter.........

[thelethargicage]

Off topic but couldnt help wondering, are you a Morbid Angel fan? I'm asking because of your screen name

[gdale6]

Ok, if you have everything in order especially your overall util. I think they have AFs as well. As a rule you dont want to nix all your store cards you need a few of them for the type of credit category..

[Anonymous]

I feel the same way about my Cap 1, but because it's my oldest open credit card I'll keep it, even if they never give me another CLI

[Creditaddict]

---

@Anonymous wrote:

I feel the same way about my Cap 1, but because it's my oldest open credit card I'll keep it, even if they never give me another CLI

---

why keep credit because it's your oldest if it's worthless and never used... it still reports for 10 years!

OP, sounds like you have the plan and it's just fine.

[pazuzu]

---

@gdale6 wrote:

Ok, if you have everything in order especially your overall util. I think they have AFs as well. As a rule you dont want to nix all your store cards you need a few of them for the type of credit category..

---

No AFs on these 3 cards, they're just not worth the trouble to keep anymore.

The only AF card I ever had was Orchard, and I closed it before the 2nd year AF.

[Anonymous]

---

@Creditaddict wrote:

---

@Anonymous wrote:

I feel the same way about my Cap 1, but because it's my oldest open credit card I'll keep it, even if they never give me another CLI

---

why keep credit because it's your oldest if it's worthless and never used... it still reports for 10 years!

OP, sounds like you have the plan and it's just fine.

---

Personal choice, just like OP is making a decision to close her accounts. I would love to have an account that's been open for 10 years, insyead of one that was closed 10 years ago.

[B335is]

Why not ask Cap1 EO to combine Orbitz and MTV limits for a Quicksilver card?

[Creditaddict]

---

@B335is wrote:

Why not ask Cap1 EO to combine Orbitz and MTV limits for a Quicksilver card?

---

cap 1 combine?? even EO I have not heard that

[B335is]

---

@Creditaddict wrote:

---

@B335is wrote:

Why not ask Cap1 EO to combine Orbitz and MTV limits for a Quicksilver card?

---

cap 1 combine?? even EO I have not heard that

---

They did it for me on an old Platinum and Green rewards card.  Maybe they forgot how to do it now.