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Need to close some cards !!!

Valued Contributor

Re: Need to close some cards !!!

I would suggest keeping all the prime bank cards open and closing the rest of the cards. Each of the prime bank cards has the potential of rising to 20K+ CL with the kind of usage you push through them. If you quit scaring the banks by using your cards so close to their CLs you should get some really good CLIs in the future.


So, with that said, these are the cards I would suggest closing:


6. PNC 1500

7. Affinity 1000

8. Alliant 2500

10.Capital One 750

11. Bloomingdale's 2000

12. Macy's 1000

13. Lord & Taylor 4400


This would leave you with this in your wallet:


1. BOA#1: 5000
2. BOA #2: 5000
3. BOA #3: 7500
4. PENFED : 9000
5. Wells: 1500

9. Chase: 3000

14. Discover: 6750
15. Barclays apple: 2000
16. Amex gold:3000


Business Cards:

1. Chase Ink cash: 12000
2. Chase ink bold: 15000


The only prime bank card you are missing is a CitiBank card. After Christmas when your usage slows down and you get your balances paid down you might want to apply for one of their cards.


You need to slow down a bit and not make any rash decisions. Most of your cards are less than 2 years old. These banks will eventually give you CLI to catch up with your spending habits. You have some really good cards here and they will take care of you.


And hey...


Congrats on getting your Chase cards turned back on the other day!


Good luck!

Starting Score: EQ 653 6/21/12
Current Score: EQ 767 5/22/18 - EX 763 5/22/18 - TU 782 5/22/18
Message 11 of 14
Established Contributor

Re: Need to close some cards !!!

Thanks everyone,

I left out a few things. My overall utilization is 2-3% (that's because my I let me Amex report eventhough it doesn't get used in the calculation.) My current balance on all my credit cards reported is 0. I owe nothing on revolving lines. I PIF before all the statements cut that way I am ahead of the game by one month and a 0 balance always gets reported. Across the 18 accounts I have revolving the balances are all 0.

I am currently charging between 30-35k a month, and pay in full. This month I will probably charge around 45k. I am getting CLI, but my point of using my personal lines to the max was to show the bank that I can handle the limit and secondly need a increase. They do always ask why u have so many open cards.... I was choosing to close the affinity because they declined me and increase. Also my capital one is not going anywhere that's why. Like my chase problem, as soon as they saw I can pay 30,000 in one month they opened the cards again. I was just trying to show them that.
Message 12 of 14
Frequent Contributor

Re: Need to close some cards !!!

how many cards do you want to manage after you close all these cards. I myself dont want to have more than 2 cards i SD because I dont want to have to charge a small amount just to keep it open. I myself am going to cancel some and only keep the cards that have potential to grow that i would use. 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Message 13 of 14
Established Contributor

Re: Need to close some cards !!!

Im not worried about managing them, that I obviously can do. I currently manage almost 30 cards, I help my brother as well.

I am just looking to have my cards reach the 10-20k range and close the ones that don't get up that high.
Message 14 of 14