@Shock wrote:
@Anonymous wrote:Not even a pack of gum?
not even a pack of gum haha. the funny thing is, when i apped for the card, i initially thought i got declined so i thought nothing of it. i was living in another city at the time, and they actually approved me and sent me a card. then they started reporting the card to the bureaus. so, for 1.5 years, my card was reporting as a positive tradeline and i hadnt even activated the card.
Ok, now you are talking about killing a card that was your DESTINY! It has magical powers and is looking out for your best interests 
It's like shooting Ole' Yeller, isn't it?
@NRB525 wrote:So, my reason for asking about DC is, with your credit score, goals of 5 cards = $100k, (which means you need and want to see higher limits on each card), preference for better interest rates (13.15% may beat anything you've got), and that you seem open to AF based on some of your cards, that DC Premier card is the trifecta for you.
You are right in that 13.15 will beat what I got. However, you are incorrect about the AF cards. MY SWA will be closed next April perhaps, and My Arrival will be downgraded or PC'ed. The DC looks enticing, but I don't know that I will spend enough to warrant the AF. I'll look into it though. Im all about rewards at the moment. Is it not essentially 1 percent cash back? 1 dollar spent = 1 club reward point
@Shock wrote:
@NRB525 wrote:So, my reason for asking about DC is, with your credit score, goals of 5 cards = $100k, (which means you need and want to see higher limits on each card), preference for better interest rates (13.15% may beat anything you've got), and that you seem open to AF based on some of your cards, that DC Premier card is the trifecta for you.
You are right in that 13.15 will beat what I got. However, you are incorrect about the AF cards. MY SWA will be closed next April perhaps, and My Arrival will be downgraded or PC'ed. The DC looks enticing, but I don't know that I will spend enough to warrant the AF. I'll look into it though. Im all about rewards at the moment. Is it not essentially 1 percent cash back? 1 dollar spent = 1 club reward point
Shock, I couldn't help but notice your signature and was curious what program you made that in. I've been meaning to make a new sig since my last one came down with a head cold. 
The answer is: tremendously.
The oldest credit account is something you can never replace with something else. It shows how long you have managed credit. Each individual should have one card with no annual fee to keep to perpetuity. If you keep canceling the oldest open card you have, in the long run your credit history will never reach the full maturity. Psychologically it is easiest to just focus on keeping the same card open no matter what.
The immediate impact of closing the card would be minimal now because of the credit reporting and scoring conventions. What if they change in the future? What if a future popular scoring model only takes into account AAoA among open credit accounts? What if the consumer reporting agencies decide to drop closed credit accounts sooner? What if open cards weigh more than closed cards? The only thing that won't change is that if you keep your account open it will always be useful in determining your creditworthiness.
With how important credit is, I think it is worth the trouble to keep your oldest account open forever, but of course to each his own.
The oldest credit account is something you can never replace with something else. It shows how long you have managed credit. Each individual should have one card with no annual fee to keep to perpetuity. If you keep canceling the oldest open card you have, in the long run your credit history will never reach the full maturity. Psychologically it is easiest to just focus on keeping the same card open no matter what.
The immediate impact of closing the card would be minimal now because of the credit reporting and scoring conventions. What if they change in the future? What if a future popular scoring model only takes into account AAoA among open credit accounts? What if the consumer reporting agencies decide to drop closed credit accounts sooner? What if open cards weigh more than closed cards? The only thing that won't change is that if you keep your account open it will always be useful in determining your creditworthiness.
With how important credit is, I think it is worth the trouble to keep your oldest account open forever, but of course to each his own.
@HiLine wrote:
The answer is: tremendously.
The oldest credit account is something you can never replace with something else. It shows how long you have managed credit. Each individual should have one card with no annual fee to keep to perpetuity. If you keep canceling the oldest open card you have, in the long run your credit history will never reach the full maturity. Psychologically it is easiest to just focus on keeping the same card open no matter what.
The immediate impact of closing the card would be minimal now because of the credit reporting and scoring conventions. What if they change in the future? What if a future popular scoring model only takes into account AAoA among open credit accounts? What if the consumer reporting agencies decide to drop closed credit accounts sooner? What if open cards weigh more than closed cards? The only thing that won't change is that if you keep your account open it will always be useful in determining your creditworthiness.
With how important credit is, I think it is worth the trouble to keep your oldest account open forever, but of course to each his own.
FYI I just quoted this post from a mobile device
@Chris679 wrote:
@HiLine wrote:
The answer is: tremendously.
The oldest credit account is something you can never replace with something else. It shows how long you have managed credit. Each individual should have one card with no annual fee to keep to perpetuity. If you keep canceling the oldest open card you have, in the long run your credit history will never reach the full maturity. Psychologically it is easiest to just focus on keeping the same card open no matter what.
The immediate impact of closing the card would be minimal now because of the credit reporting and scoring conventions. What if they change in the future? What if a future popular scoring model only takes into account AAoA among open credit accounts? What if the consumer reporting agencies decide to drop closed credit accounts sooner? What if open cards weigh more than closed cards? The only thing that won't change is that if you keep your account open it will always be useful in determining your creditworthiness.
With how important credit is, I think it is worth the trouble to keep your oldest account open forever, but of course to each his own.FYI I just quoted this post from a mobile device
An update? Whaaaaaa?
Wait, you found the desktop mode button, didn't you.
Sneaky sneaky!
@Anonymous wrote:Shock, I couldn't help but notice your signature and was curious what program you made that in. I've been meaning to make a new sig since my last one came down with a head cold.
haha, i bit somebody else. but its essentially microsoft excel. screenshot to paint, save and upload
@HiLine wrote:
The answer is: tremendously.
The oldest credit account is something you can never replace with something else. It shows how long you have managed credit. Each individual should have one card with no annual fee to keep to perpetuity. If you keep canceling the oldest open card you have, in the long run your credit history will never reach the full maturity. Psychologically it is easiest to just focus on keeping the same card open no matter what.
The immediate impact of closing the card would be minimal now because of the credit reporting and scoring conventions. What if they change in the future? What if a future popular scoring model only takes into account AAoA among open credit accounts? What if the consumer reporting agencies decide to drop closed credit accounts sooner? What if open cards weigh more than closed cards? The only thing that won't change is that if you keep your account open it will always be useful in determining your creditworthiness.
With how important credit is, I think it is worth the trouble to keep your oldest account open forever, but of course to each his own.
I hear ya, you make plenty of valid points. I guess I do underestimate the importance of AAoA, given that it isnt weighed as heavily. But here's the thing, my goal really isn't to chase that 850 score. After a certain point, you arent going to get a lower interest rate. There's something called a floor rate. So after a certain score, it ain't gonna matter what your "number" is. I mean essentially, it's just a competition of seeing who has a better score. I guess it depends on what a persons goal is with credit.
i used to have pics like you. but the way i did it, super easy to edit, and it gives all the vital info peole normally ask me when i ask for advice. so i get my answer that much faster. on a forum where you dont know when a poster will reply back, its essential