Help me close some account(s)

[revvystoke]

Planning to app for an amex spg next month, my scores are current, down a few points due to a business card app this month. Have an inq from it but new account is not reporting on CR yet (PG Business card with SSN)

I opened my Citi card for BT's but have never used it more then a few times, any reason to keep it open? Also the walmart card is not really needed, I got it because of the hype of the free fico, but many cards are now offering free scores. If I close these two accounts, will it effect my util dramatically? My only reported balance is my boa @$2k.

I am wondering if AMEX may say I have enough in unsecured credit, I have not had that happen as of yet. No upcoming major purchases are coming up and I don't want to hit any AMEX thresholds for my income, 65k.

[Creditaddict]

If all your sigI is all accounts you have in life I don't think you need to close any!

as for Amex and limit that is going to be constantly changing internally as you build history, charge, and keep overall util in check too.

i think closing accounts with another creditor to better chances with a different creditor is the wrong thinking and could more easily backfire then go right in my opinion.

[gdale6]

I'm not an expert on AMEX but with you at 2k owed I dont see anything wrong with closing the cards if you don't need them, especially the WM Discover, its high interest and you can get the same score from the Discover IT. There are people that have great credit and limits far in excess of their income so you may not have any problem at all here.

[FinStar]

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@Creditaddict wrote:

If all your sigI is all accounts you have in life I don't think you need to close any!

as for Amex and limit that is going to be constantly changing internally as you build history, charge, and keep overall util in check too.

i think closing accounts with another creditor to better chances with a different creditor is the wrong thinking and could more easily backfire then go right in my opinion.

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+1

OP, you mentioned you have used Simplicity a couple times in the past?  If anything, this tends to be a decent card that can offer occasional 0% APR BTs (should the need arise) rather than apply for a new card with a similar BT structure.  On the downside, it's a no-frills CC.

At the end of the day, it's your decision whether those CCs no longer offer any appeal or if you prefer to manage less CCs in your portfolio.  For the Walmart Discover, it would depend on whether you shop there on a frequent basis or would ever take advanatage of their promotional financing offers.  However, since your current utilization appears to be low, it really won't make a real difference whether you close now or later.

[jamesdwi]

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@Creditaddict wrote:

If all your sigI is all accounts you have in life I don't think you need to close any!

as for Amex and limit that is going to be constantly changing internally as you build history, charge, and keep overall util in check too.

i think closing accounts with another creditor to better chances with a different creditor is the wrong thinking and could more easily backfire then go right in my opinion.

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+1  don't close accounts to impress others if they don't have an AF. 

Not even the walmart DISC, it may come in handy its a great way to get a $100 in cash over purchase if the need arrises. The promotional offers are good as well and no AF, and the card can grow, high CL lead to higher CL's