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Hi first post but been lurking. I love these forums
So I think I've reached a point where I have too many credit cards. I've listed the type of cards limits and dates when I got them.
My goal is to get some CLI on some of the stronger cards and do away with some weaker cards. (Is this a good idea to close any of them?)
Obviously I went on an app spree November 2012 which hurt my score pretty bad, and I've incurred a balance on some of these.
I am however paying them off respectively. Im planning on buying a house here in about 2 years when alot fo these inquries go away as well.
Any suggestions?
Charge Cards
AU - Amex Green - December 2012
AU - Amex Gold - February 2013
Credit Cards
Chase Sapphire $5,000 November 2012
BankAmeriCard Platinum Visa $1,000 October 2010
Discover Cashbook Bonus $1,000 November 2012
Capital One Journey $750 Augusts 2011
Capital One Cash Rewards MC $500 November 2012
Citi Thankyou $500 November 2012
Creditone Bank $500 October 2011
Store Cards
Walmart $900 November 2012
Gap $400 November 2012
Target $300 November 2012
Macys $300 November 2012
Dillars $600 November 2012
The Home Depot $500 November 2012
Lowe's $500 November 2012
Express $250 July 2012
this is always what i recommend.
pay off the cards that has ridiculous monthly / annual or random fees structure and try to get them waived. if you can't get the fees waived, cancel it.
pay down the cards with highest interests first, then pay down the card with the next highest interest rate, and go from that order.
as for cards with no fees, just put it into your drawer and let it close itself out from inactivity. you get to milk a few more months / years of account age for what it's worth.
@Luis135 wrote:Hi first post but been lurking. I love these forums
So I think I've reached a point where I have too many credit cards. I've listed the type of cards limits and dates when I got them.
My goal is to get some CLI on some of the stronger cards and do away with some weaker cards. (Is this a good idea to close any of them?)
Obviously I went on an app spree November 2012 which hurt my score pretty bad, and I've incurred a balance on some of these.
I am however paying them off respectively. Im planning on buying a house here in about 2 years when alot fo these inquries go away as well.
Any suggestions?
Charge Cards
AU - Amex Green - December 2012
AU - Amex Gold - February 2013
Credit Cards
Chase Sapphire $5,000 November 2012
BankAmeriCard Platinum Visa $1,000 October 2010
Discover Cashbook Bonus $1,000 November 2012
Capital One Journey $750 Augusts 2011
Capital One Cash Rewards MC $500 November 2012
Citi Thankyou $500 November 2012
Creditone Bank $500 October 2011
Store Cards
Walmart $900 November 2012
Gap $400 November 2012
Target $300 November 2012
Macys $300 November 2012
Dillars $600 November 2012
The Home Depot $500 November 2012
Lowe's $500 November 2012
Express $250 July 2012
I woud recommend gettting rid of all the store cards except maybe walmart. CreditOne get rid of for sure and Capital one journey. Then email EO for cap1 and ask for a CLI on the other cap1 card. Get your discover PC'd to Discover IT and ask for a CLI along the way.
Once your other creditors are able to see on your report the store cards are closed, they may be more inclined to give you CLI's. those store cards really are useless. the spend that you might put on them would be better put on a card that gives you decent rewards, of which you have a few.
lol Why does every one alwas suggest to axe this card?
Yeah basicaly, do I have too many cards and should I close some of them?
My balances as follow.
Chase Saphire $4,000 just made a large purchase going to pay off soon.
BOA Card $600 paying off by the end of month.
Thanks for the advice!!
Do you have to many and should you close them....I think depends on what it is you are trying to accomplish.....