Question about closing cards

[Anonymous]

Now that I have a Quick Silver Capital One, Overstock Master Card and just approved for an American Express SPG card I am not sure what to do with my secured cards, Open Sky, Credit One and First Savings. Should I close them? I have had these 3 cards for about 15 months rebuilding.

[Anonymous]

What are the limits on these cards?  Keep in mind they are currently padding your utilization.  But if you don't care about that and are doing fine then definately close them especially Credit One.

[Anonymous]

The limit on credit one is $900 and first savings is $750. The Open Sky is only $250.00 secured card.

[Anonymous]

---

@Anonymous wrote:
The limit on credit one is $900 and first savings is $750. The Open Sky is only $250.00 secured card.

---

What are the limits on your new cards?  

[Anonymous]

---

@Anonymous wrote:
Now that I have a Quick Silver Capital One, Overstock Master Card and just approved for an American Express SPG card I am not sure what to do with my secured cards, Open Sky, Credit One and First Savings. Should I close them? I have had these 3 cards for about 15 months rebuilding.

---

If they have any fees at all *cough* Credit One *cough* *cough* then you should close them right away. Such fees may be:

1) Annual fee

2) monthly fee

3) Interest fee without a grace period (Credit One, I'm looking at you)

4) Fees to pay the bills

5) Fees to pay the fees

6) Fees for online pay

Note that this applies only to the three cards that you have specifically mentioned, and should not necessarily be taken as advice for all cards. 

[Anonymous]

Agree.