Help Evaluate My Apps and Current Situation - AMEX BPC, Chase Sapphire Pref, Venture and Discover

[lrdwilder]

Hi Everyone,

I've been lurking and reading for quite a while now. Have been working my butt off to move my score up and I think I finally hit wall. Here is where I was as of a week ago:

AU Wife's BoA 20k limit - currently carry a 4k balance

CapOne Plat $1200 cl - $0  $39/yearly fee

Orcahrd Bank $400 cl - $0  $79/yearly fee

AMEX Gold Premier Rewards - Avg about $3k spend a month - always paid in full

TU - 705 - EQ - 699 scores before an apps - 0 inquiries shows - 4 late payments from 3 years ago 

Applied for in the following order -

AMEX BCP - Approved 10k CL

Chase Saphire Pref - Approved 6k CL

Capital One Venture Card - Approved 5k CL

Discover MORE Card - Approved 3k CL

----- i have SCOREWATCH and received the inquiry of CapOne but according to score watch my score INCREASED!! It went up 5 points! LOLOL

Future plans to upgrade the AMEX Gold to Plat in August which I think will generate a hard pull, no additional inquiries for 2012 are anticipated.

Please let me know your thoughts on the following actions:

Cancel the Orchard Bank 400CL / $79 annual fee

I am debating the cancellation of the CapitalOne 1200CL as I now have a higher line with them.....what are your thoughts? Also what are your thoughts as to amounts and types of credit I now have?

Thanks!

[LS2982]

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@lrdwilder wrote:

Hi Everyone,

I've been lurking and reading for quite a while now. Have been working my butt off to move my score up and I think I finally hit wall. Here is where I was as of a week ago:

AU Wife's BoA 20k limit - currently carry a 4k balance

CapOne Plat $1200 cl - $0  $39/yearly fee

Orcahrd Bank $400 cl - $0  $79/yearly fee

AMEX Gold Premier Rewards - Avg about $3k spend a month - always paid in full

TU - 705 - EQ - 699 scores before an apps - 0 inquiries shows - 4 late payments from 3 years ago 

Applied for in the following order -

AMEX BCP - Approved 10k CL

Chase Saphire Pref - Approved 6k CL

Capital One Venture Card - Approved 5k CL

Discover MORE Card - Approved 3k CL

----- i have SCOREWATCH and received the inquiry of CapOne but according to score watch my score INCREASED!! It went up 5 points! LOLOL

Future plans to upgrade the AMEX Gold to Plat in August which I think will generate a hard pull, no additional inquiries for 2012 are anticipated.

Please let me know your thoughts on the following actions:

Cancel the Orchard Bank 400CL / $79 annual fee

I am debating the cancellation of the CapitalOne 1200CL as I now have a higher line with them.....what are your thoughts? Also what are your thoughts as to amounts and types of credit I now have?

Thanks!

---

How old is your next card after Orchard?? if its only a few months i would think about canning it. If not, I'd be on the phone with them trying to get the AF waived.

[CS800]

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@lrdwilder wrote:

Hi Everyone,

I've been lurking and reading for quite a while now. Have been working my butt off to move my score up and I think I finally hit wall. Here is where I was as of a week ago:

AU Wife's BoA 20k limit - currently carry a 4k balance

CapOne Plat $1200 cl - $0  $39/yearly fee

Orcahrd Bank $400 cl - $0  $79/yearly fee

AMEX Gold Premier Rewards - Avg about $3k spend a month - always paid in full

TU - 705 - EQ - 699 scores before an apps - 0 inquiries shows - 4 late payments from 3 years ago 

Applied for in the following order -

AMEX BCP - Approved 10k CL

Chase Saphire Pref - Approved 6k CL

Capital One Venture Card - Approved 5k CL

Discover MORE Card - Approved 3k CL

----- i have SCOREWATCH and received the inquiry of CapOne but according to score watch my score INCREASED!! It went up 5 points! LOLOL

Future plans to upgrade the AMEX Gold to Plat in August which I think will generate a hard pull, no additional inquiries for 2012 are anticipated.

Please let me know your thoughts on the following actions:

Cancel the Orchard Bank 400CL / $79 annual fee

I am debating the cancellation of the CapitalOne 1200CL as I now have a higher line with them.....what are your thoughts? Also what are your thoughts as to amounts and types of credit I now have?

Thanks!

---

When you close a card in good standing, you only lose the CL with the card and not the AAoA. It seems that you are great CL's already so I would close the Orchard and the Cap One if I were you.

[LS2982]

---

@CS800 wrote:

---

@lrdwilder wrote:

Hi Everyone,

I've been lurking and reading for quite a while now. Have been working my butt off to move my score up and I think I finally hit wall. Here is where I was as of a week ago:

AU Wife's BoA 20k limit - currently carry a 4k balance

CapOne Plat $1200 cl - $0  $39/yearly fee

Orcahrd Bank $400 cl - $0  $79/yearly fee

AMEX Gold Premier Rewards - Avg about $3k spend a month - always paid in full

TU - 705 - EQ - 699 scores before an apps - 0 inquiries shows - 4 late payments from 3 years ago 

Applied for in the following order -

AMEX BCP - Approved 10k CL

Chase Saphire Pref - Approved 6k CL

Capital One Venture Card - Approved 5k CL

Discover MORE Card - Approved 3k CL

----- i have SCOREWATCH and received the inquiry of CapOne but according to score watch my score INCREASED!! It went up 5 points! LOLOL

Future plans to upgrade the AMEX Gold to Plat in August which I think will generate a hard pull, no additional inquiries for 2012 are anticipated.

Please let me know your thoughts on the following actions:

Cancel the Orchard Bank 400CL / $79 annual fee

I am debating the cancellation of the CapitalOne 1200CL as I now have a higher line with them.....what are your thoughts? Also what are your thoughts as to amounts and types of credit I now have?

Thanks!

---

When you close a card in good standing, you only lose the CL with the card and not the AAoA. It seems that you are great CL's already so I would close the Orchard and the Cap One if I were you.

---

After rethinking about it I'm woth you on that, Axe them!

[Anonymous]

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@lrdwilder wrote:

Hi Everyone,

I've been lurking and reading for quite a while now. Have been working my butt off to move my score up and I think I finally hit wall. Here is where I was as of a week ago:

AU Wife's BoA 20k limit - currently carry a 4k balance

CapOne Plat $1200 cl - $0  $39/yearly fee

Orcahrd Bank $400 cl - $0  $79/yearly fee

AMEX Gold Premier Rewards - Avg about $3k spend a month - always paid in full

TU - 705 - EQ - 699 scores before an apps - 0 inquiries shows - 4 late payments from 3 years ago 

Applied for in the following order -

AMEX BCP - Approved 10k CL

Chase Saphire Pref - Approved 6k CL

Capital One Venture Card - Approved 5k CL

Discover MORE Card - Approved 3k CL

----- i have SCOREWATCH and received the inquiry of CapOne but according to score watch my score INCREASED!! It went up 5 points! LOLOL

Future plans to upgrade the AMEX Gold to Plat in August which I think will generate a hard pull, no additional inquiries for 2012 are anticipated.

Please let me know your thoughts on the following actions:

Cancel the Orchard Bank 400CL / $79 annual fee

I am debating the cancellation of the CapitalOne 1200CL as I now have a higher line with them.....what are your thoughts? Also what are your thoughts as to amounts and types of credit I now have?

Thanks!

---

First off Congratulations! The cards you were approved for and starting limits are impressive. Regarding the Orchard and Capital One with AF. I would definitely first call each to get the AF waived. If Orchard won't waive it then I would consider closing it but I would recommend to keep the Cap One since it's only $39 and I doubt that's a lot to you since you are paying a much higher AF with the Amex Gold and considering upgrading to the Platinum one. Remember with Cap One you can do BT without any fees if you ever run into some financial hardship or emergency in the future. 

[SevenNEW]

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@Anonymous wrote:

First off Congratulations! The cards you were approved for and starting limits are impressive. Regarding the Orchard and Capital One with AF. I would definitely first call each to get the AF waived. If Orchard won't waive it then I would consider closing it but I would recommend to keep the Cap One since it's only $39 and I doubt that's a lot to you since you are paying a much higher AF with the Amex Gold and considering upgrading to the Platinum one. Remember with Cap One you can do BT without any fees if you ever run into some financial hardship or emergency in the future. 

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True, but OP also has Cap 1 Venture, so I wouldn't think twice -- axe!

[Walt_K]

Agree about axing Cap One and Orchard.  FYI, upgrading to Platinum will not be a hard pull.  But if you upgrade rather than apply for a new account, you most likely won't get any bonus MR points.  I received an upgrade offer, and I've read about others getting them, but normally when  you upgrade, there's no bonus associated with it.  I would have applied for a new account rather than upgrading if they hadn't sent me an offer to upgrade and get 50K bonus points. 

[Anonymous]

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@LS2982 wrote:

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@CS800 wrote:

---

@lrdwilder wrote:

Hi Everyone,

I've been lurking and reading for quite a while now. Have been working my butt off to move my score up and I think I finally hit wall. Here is where I was as of a week ago:

AU Wife's BoA 20k limit - currently carry a 4k balance

CapOne Plat $1200 cl - $0  $39/yearly fee

Orcahrd Bank $400 cl - $0  $79/yearly fee

AMEX Gold Premier Rewards - Avg about $3k spend a month - always paid in full

TU - 705 - EQ - 699 scores before an apps - 0 inquiries shows - 4 late payments from 3 years ago 

Applied for in the following order -

AMEX BCP - Approved 10k CL

Chase Saphire Pref - Approved 6k CL

Capital One Venture Card - Approved 5k CL

Discover MORE Card - Approved 3k CL

----- i have SCOREWATCH and received the inquiry of CapOne but according to score watch my score INCREASED!! It went up 5 points! LOLOL

Future plans to upgrade the AMEX Gold to Plat in August which I think will generate a hard pull, no additional inquiries for 2012 are anticipated.

Please let me know your thoughts on the following actions:

Cancel the Orchard Bank 400CL / $79 annual fee

I am debating the cancellation of the CapitalOne 1200CL as I now have a higher line with them.....what are your thoughts? Also what are your thoughts as to amounts and types of credit I now have?

Thanks!

---

When you close a card in good standing, you only lose the CL with the card and not the AAoA. It seems that you are great CL's already so I would close the Orchard and the Cap One if I were you.

---

After rethinking about it I'm woth you on that, Axe them!

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i agree, get rid os them,, but can u replace the cl's with cli's on the other cards? have u tried yet?

[-Cain-]

You can probably close them and be ok. You've picked up nice CLs for utilization purposes, and will keep the positive TLs for 10 more years, so AAoA wouldnt be affected until then. By then, you're other accounts will age nicely, and future AmEx will backdate and help as well. Getting rid of those AFs will be a bonus as well. Congrats on your new cards.

[Creditaddict]

I would close Cap and HSBC.

Upgrading to Plat. will not be a hard pull.