Macys Red Card to Macys Visa?

[Anonymous]

Right now I have 4 cc's (2 bofa's, 1 amex and 1 capone) and 2 store card (macys and target)

I'm thinking of canceling my cap1 card (can't stand them) and also I learned they are upgrading my macys red to platinum. If I switch from regular store card to macys platinum visa (which gives 3% rewards on Macys purchases. you don't get that on the regular platinum) would it effect my credit distribution? Am I better of keeping it as a store card, or it wouldn't matter if I change it to visa?

[Anonymous]

Macy's is one of those odd-ball store cards.  When you get the Visa it appears as a new, separate tradeline.  For instance my mother has a Macy's store card w/ a 4.6k limit and her Macy's Visa line is 3k. 

Before you close your Cap1, please read the Closing Credit Cards thread that is stickied at the top of this forum.

[Anonymous]

Thanks a lot for the info.. Then I might stay with the store card only. I want to use my extra slot for the CC's on something more useful..

About the Cap1... I read the post, and yeah it is true closing doesn't bring you anything positive but my total credit line is around 25K and this card is $750. I thought it wouldn't hurt my utilization that much. Plus I hate the guys so much, I can't even begin to tell. I'm thinking of calling for a product change or CLI request and cancel if I don't get what I want.. I'm tired of their "we're a more conservative lender" crap..

[Anonymous]

Yup, when it comes down to it, if you don't need the TL for the purpose of managing your util and they just flat out annoy you, then I'd say go for it.  I have a Cap1 card that started out at 3k, then went to 3.75k, and finally landed at 4.25k.  The card doesn't have any rewards, but I plan on keeping it until the $19 AF hits in Jan.  I don't want to play their 'apply for a different CC and combine' game b/c honestly, I don't want another Cap1 acct.

Just trying to keep my eye on the prize.