Getting Rid of Rebuilders

[Anonymous]

Hi all. I now have 3 great cards, NFCU Cash Rewards, NFCU Platinum Visa, and Discover. What is the best way to start getting rid of my rebuilders without harming my credit?

[Anonymous]

Make sure all rebuilders have a zero balance reported, and wait another billing cycle just to be safe from trailing interest. When a second statement cuts at zero, you are in the clear. 

How quickly you close them depends on the balances on your keeper cards. If you have low/no balances, I'd close one per month. If you're carrying balances, try to work on them - each card you close lowers your aggregate credit limit, which will drive up your utilization percentage accordingly. Long as you have low balances, you should be fine.

[AverageJoesCredit]

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@Anonymous wrote:

Hi all. I now have 3 great cards, NFCU Cash Rewards, NFCU Platinum Visa, and Discover. What is the best way to start getting rid of my rebuilders without harming my credit?

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Gently visit Smorgasboard

[Anonymous]

@Anonymous , my new cards give me a higher balance than my rebuilders do so hopefully that helps.

[Anonymous]

@Anonymous  it definitely will help to mitigate any hit to your usage percentage.

[Anonymous]

I am also confused and in need of light on this same issue.

Milestoneapply

[SUPERSQUID]

I started closing some of my rebuilders as i got much better cards with higher limits, so far i closed - applied bank 300 cl, nex gen first digital 300 cl, reflex 1050 cl, then in november i closed, - valero gasoline 300 cl, big lots comenity 750 cl.

in february i plan to close ikea 750 cl and after mission lane 1050 cl.

I have a nice lineup with my last 5 cards and the headroom from the higher cl's on them allows me to close the rebuilders with minimal score change.

my new 5 , - Discover sl 3k 5 percent rotating cats, Cap 1 QS 1800 cl 1.5 cb, Cap 1 savor one 3k sl 1-3 pct cb, Comenity mastercard 1k sl 1.5 cb, and a big surprise Penfed PCR 7.5k sl 2 percent cb 

[SouthJamaica]

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@Anonymous wrote:

Hi all. I now have 3 great cards, NFCU Cash Rewards, NFCU Platinum Visa, and Discover. What is the best way to start getting rid of my rebuilders without harming my credit?

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1. Do it gradually.

2. Be sure you can maintain very low utilization on your keeper cards.

[pakratus]

I'm curious what are your rebuilders and the age of them?

I have one CapOne $500 that i may get rid of but I wont make a decision on it until it hits 3 years old.

[SUPERSQUID]

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@SouthJamaica wrote:

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@Anonymous wrote:

Hi all. I now have 3 great cards, NFCU Cash Rewards, NFCU Platinum Visa, and Discover. What is the best way to start getting rid of my rebuilders without harming my credit?

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1. Do it gradually.

2. Be sure you can maintain very low utilization on your kI

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 I mistakenly responded to this.