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Do I close any of these before small app spree?

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Uncle_Money
Established Contributor
‎06-10-2010 10:12 PM
‎06-10-2010 10:12 PM

Do I close any of these before small app spree?

Hi Gang,

 

Below is a basic snapshot of my accounts.  I'm looking to apply for a QUALITY card soon (Discover, Chase) and I want to know if I should close any accounts before doing so.  The only card I'm using now is my Amex green card.  Most of my other accounts carry a $0 balance except for the first 3 accounts, which will also be paid off shortly.

 

Amex - Card used the most - opened 8/1/2008

BOA - $5,560.94 - opened 9/1/2008
BOA - $938.82 - opened 4/1/2006

 HSBC - $3,986.82 - opened 5/1/2006
CAP ONE - $0 - opened 8/1/2005
CAP ONE - $0 - opened 5/1/2008
LEXUS - $0 - opened 11/1/2008

HSBC - $0 - opened 6/1/2003 -- OLDEST ACCOUNT
EXPRESS - $0 - opened 11/1/2009
MACYS - $0 - opened 10/28/2009
DELL - $0 - opened 8/1/2007
JUNIPER - $0 - opened 2/1/2007
HOUSEHOLD - $0 - opened 1/1/2005

VALERO - $0 - opened 4/1/2008

 

Advice is appreciated.

 

Thanks,

 

UM

Personal: American Express Platinum - NPSL | American Express Blue Cash Preferred - $15,000 | Chase Sapphire Reserve - $38,500 | Chase Amazon Prime Visa - $7,200 | Chase Freedom - $500 | Barclaycard Arrival+ - $18,600 | PenFed Platinum Rewards - $25,000 | PenFed LOC - $10,000 | Navy Federal Credit Union Platinum Visa - $25,000 | Navy Federal Credit Union LOC - $10,000 | Citi Double Cash - $12,170 | Citizens Cash Back+ - $8,650 | Citizens LOC Overdraft - $8,000 | Discover - $10,000 | Capital One Quicksilver One - $3,600 | Capital One Platinum - $750 | Valero - $600 | Dell - $3,000 | Lowes Advantage - $30,000 | Macys Amex - $25,000 | The Home Depot - $7,500 | Tourneau - $15,000
Business: American Express Business Platinum Card - NPSL | American Express Plum Card - NPSL | American Express SimplyCash Plus - $10,000 | American Express Gold Card - NPSL | Bank of America Cash Rewards - $100,000 | Capital One Spark Business - $54,000 | Chase Business Preferred - $34,000 | Chase Business Ink - $15,000 | PNC Bank Cash Rewards Visa Signature - $19,000 | PNC LOC $100,000 | BP Business Solutions - $1,500 | KeyBank Mastercard - $6,000 | Staples More Account - $3,500

Message 1 of 6
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Anonymous
Not applicable
‎06-10-2010 10:34 PM
‎06-10-2010 10:34 PM

Re: Do I close any of these before small app spree?

Try combining the capital one cards maybe?

Message 2 of 6
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Uncle_Money
Established Contributor
‎06-10-2010 10:37 PM
‎06-10-2010 10:37 PM

Re: Do I close any of these before small app spree?

Hi Asteroid,

 

I already tried but Cap One no longer combines accounts or at least this is what I was told!

 

UM

Personal: American Express Platinum - NPSL | American Express Blue Cash Preferred - $15,000 | Chase Sapphire Reserve - $38,500 | Chase Amazon Prime Visa - $7,200 | Chase Freedom - $500 | Barclaycard Arrival+ - $18,600 | PenFed Platinum Rewards - $25,000 | PenFed LOC - $10,000 | Navy Federal Credit Union Platinum Visa - $25,000 | Navy Federal Credit Union LOC - $10,000 | Citi Double Cash - $12,170 | Citizens Cash Back+ - $8,650 | Citizens LOC Overdraft - $8,000 | Discover - $10,000 | Capital One Quicksilver One - $3,600 | Capital One Platinum - $750 | Valero - $600 | Dell - $3,000 | Lowes Advantage - $30,000 | Macys Amex - $25,000 | The Home Depot - $7,500 | Tourneau - $15,000
Business: American Express Business Platinum Card - NPSL | American Express Plum Card - NPSL | American Express SimplyCash Plus - $10,000 | American Express Gold Card - NPSL | Bank of America Cash Rewards - $100,000 | Capital One Spark Business - $54,000 | Chase Business Preferred - $34,000 | Chase Business Ink - $15,000 | PNC Bank Cash Rewards Visa Signature - $19,000 | PNC LOC $100,000 | BP Business Solutions - $1,500 | KeyBank Mastercard - $6,000 | Staples More Account - $3,500

Message 3 of 6
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ngerasimatos
Valued Contributor
‎06-10-2010 10:48 PM
‎06-10-2010 10:48 PM

Re: Do I close any of these before small app spree?

I would close anything with a small cl or cards you aren't using at all, or think you may never use in the future. Are you looking for a big cl card?
Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

800+ Club
Message 4 of 6
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Anonymous
Not applicable
‎06-13-2010 06:11 AM
‎06-13-2010 06:11 AM

Re: Do I close any of these before small app spree?

you have 3 HSBC accts.  Is one of them a car loan?

You don't list credit limits or scores, etc.  Two BofA

accounts,  two  CAP ONE's??????? 

Message 5 of 6
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Uniqua
Established Contributor
‎06-13-2010 07:38 AM
‎06-13-2010 07:38 AM

Re: Do I close any of these before small app spree?

You have fourteen revolving accounts, three of which are QUALITY cards.  Do you need any more CCs?  I personally wouldn't close any or apply for any new CCs with that many open accounts.  But that's just me.

Message 6 of 6
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