Do I need to trim CCs?

Anonymous · ‎10-31-2017

Hello Im 26 years old and have 9 CC open. I dont have a long cc history.

Will list starting with amount, cc institute, age at time of post. I really wish US Bank would let me reallocate. Are there any cc I should close to lower how many I have? I rarely ever use the kohls or american eagle so do these usually get closed due to no activity? Do I own to many US Bank Cards? Does the variety of banks help or does it not matter? Thank you for answering and helping out

Currently Open

16,200$ US Bank Platinum 3m
6,500$ US Bank-Cash Plus 1y
6,000$ US Bank-Cash Rewards 3yrs
5,500$ US Bank 365
9,000$ Amex Everyday, 1y5m
3,700$ Discover IT, 1y5m
4,500$ Chase- Freedom 2y9m
400$ American Eagle 2y2m
300$ Kohls 3y4m

3,000$ US Bank Unsecured Reserve Line

Recently Closed

Cap1 secured- 3y4m

Chase Slate- 2y9m

Anonymous · ‎10-31-2017

Just hit the Discover LUV button now at 4,000$ CL

simplynoir · ‎10-31-2017

If you don't use the AE or Kohl's cards I would go ahead and SD them unless you wanna close them. The US Bank cards if you don't want so many I would consider moving credit lines and closing a card or two depending on how the cards' benefits work for you. Everything else I would keep and garden to let them grow. You have a good lineup lineup with potential with future apps to get what you want.

minski · ‎10-31-2017

@Anonymous wrote:
Hello Im 26 years old and have 9 CC open. I dont have a long cc history.

Will list starting with amount, cc institute, age at time of post. I really wish US Bank would let me reallocate. Are there any cc I should close to lower how many I have? I rarely ever use the kohls or american eagle so do these usually get closed due to no activity? Do I own to many US Bank Cards? Does the variety of banks help or does it not matter? Thank you for answering and helping out

Currently Open
16,200$ US Bank Platinum 3m
6,500$ US Bank-Cash Plus 1y
6,000$ US Bank-Cash Rewards 3yrs
5,500$ US Bank 365
9,000$ Amex Everyday, 1y5m
3,700$ Discover IT, 1y5m
4,500$ Chase- Freedom 2y9m
400$ American Eagle 2y2m
300$ Kohls 3y4m
3,000$ US Bank Unsecured Reserve Line

Recently Closed
Cap1 secured- 3y4m
Chase Slate- 2y9m

1. How many cards are you wanting to be left with?

2. If you don't use Kohl's or American Eagle and want to limit the number of open cards you have, I'd go ahead and close them.

3. You have more cards from US Bank but you also have AmEx, Discover and Chase. I wouldn't worry about how many cards you have with one bank at this time.

Weren't you going to see if you could PC the Cash Rewards to another Cash Plus? What happened to that plan? I myself PC'ed a Cash Rewards to Cash Plus without HP so I know it can be done. That said, if you don't need two Cash Pluses and you want to decrease the number of cards to look after, I'd close the Cash Rewards.

AverageJoesCredit · ‎10-31-2017

Nice to see Discover still generous as ever

Anonymous · ‎11-01-2017

@simplynoir wrote:
If you don't use the AE or Kohl's cards I would go ahead and SD them unless you wanna close them. The US Bank cards if you don't want so many I would consider moving credit lines and closing a card or two depending on how the cards' benefits work for you. Everything else I would keep and garden to let them grow. You have a good lineup lineup with potential with future apps to get what you want.

Ive been trying to get them to reallocate the credit so i could cut two of those us bank cards and just be left with a cash plus and a 365 but they said they no longer move credit limits anymore.

Anonymous · ‎11-01-2017

@minski wrote:
1. How many cards are you wanting to be left with?
2. If you don't use Kohl's or American Eagle and want to limit the number of open cards you have, I'd go ahead and close them.
3. You have more cards from US Bank but you also have AmEx, Discover and Chase. I wouldn't worry about how many cards you have with one bank at this time.

Weren't you going to see if you could PC the Cash Rewards to another Cash Plus? What happened to that plan? I myself PC'ed a Cash Rewards to Cash Plus without HP so I know it can be done. That said, if you don't need two Cash Pluses and you want to decrease the number of cards to look after, I'd close the Cash Rewards.

I was worried about a HP for the PC on the Cash Rewards, but I will give them a call tomorrow morning and see what they can do . Also if i were to close my Cash Rewards wouldnt I be losing one of my oldest accounts or is it still so young that it won't change anything drastically?

minski · ‎11-01-2017

It may be your oldest account but it is not oldest by much to your next oldest which seems to be the Chase Freedom. It should also continue to age for another 10 years as a closed account on your reports so your AAoA won't be affected. I wouldn't worry about it.