Should I cancel my credit cards and apply for new ones?

[BetterTomorrow]

First and foremost, I'm glad I just found this site... There's so much great information on here, I just wish I would have found it sooner. Oh well, better late than never...[[[[[[[[[[[[[[]]]]]]]]]]]]]]]]]]]Anyway, I've been irresponsible in the past and my credit has suffered. Well, within the past couple years or so, I got my act together and I haven't missed a payment for some time now. Then a month ago, I was offered a pre-approved cc from WMU, I applied, and got accepted. One thing cool about this cc is that it gives you your Fico score from Trans Union. I often heard of Fico this, Fico that but I didn't actually know what Fico score was, hence I started to Google about Fico. That's when I found this site and I'm glad I did...[[[[[[[[[[[[[[[[]]]]]]]]]]]]]] Well my question is... I have about 3 ccs from CapOne with annual fees that I've had for over 12 months. If my Fico is around 650, would I have enough leverage to have them cancel the annual fees or should I just cancel these cards and get new ones? If I cancel the CapOnes, will it hurt my Fico score? Thanks Edit:How do you separate the paragraphs? Message Edited by BetterTomorrow on 12-28-2007 01:25 AM

Message Edited by BetterTomorrow on 12-28-2007 01:27 AM

[Anonymous]

If using firefox - you have to check the "Automatically convert carriage returns to HTML line breaks"

Capone-
Here is how you handle these Guys, call the backdoor number and get CLI's on all of your accounts.

Then Next month call in and combine all 3 to your oldest account.

You will max up your CL with them, keep the history, kill 2 of the AF's.

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@BetterTomorrow wrote:
First and foremost, I'm glad I just found this site... There's so much great information on here, I just wish I would have found it sooner. Oh well, better late than never...[[[[[[[[[[[[[[]]]]]]]]]]]]]]]]]]]Anyway, I've been irresponsible in the past and my credit has suffered. Well, within the past couple years or so, I got my act together and I haven't missed a payment for some time now. Then a month ago, I was offered a pre-approved cc from WMU, I applied, and got accepted. One thing cool about this cc is that it gives you your Fico score from Trans Union. I often heard of Fico this, Fico that but I didn't actually know what Fico score was, hence I started to Google about Fico. That's when I found this site and I'm glad I did...[[[[[[[[[[[[[[[[]]]]]]]]]]]]]] Well my question is... I have about 3 ccs from CapOne with annual fees that I've had for over 12 months. If my Fico is around 650, would I have enough leverage to have them cancel the annual fees or should I just cancel these cards and get new ones? If I cancel the CapOnes, will it hurt my Fico score? Thanks Edit:How do you separate the paragraphs? Message Edited by BetterTomorrow on 12-28-2007 01:25 AM

Message Edited by BetterTomorrow on 12-28-2007 01:27 AM

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Message Edited by Timothy on 12-28-2007 03:57 AM

[Anonymous]

Man Timothy, I was going to say that. I learned how to separate the paragraphs yesterday, thanks to you.

:-)

[BetterTomorrow]

So your suggestion is to ask for credit increase in all three and consolidate the three into one?

[Anonymous]

Yep-

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BetterTomorrow wrote:
So your suggestion is to ask for credit increase in all three and consolidate the three into one?

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[Anonymous]

Better I would combine the cards also, but make sure that you keep the better one. Cap 1 have cards in different cats (3) and more than likely they will not be very helpful to you, if you have their rebuilder card. If you want you can app for a better card with them. NOTE: THEY WILL PULL ALL 3 CR'S, so it is totally up to you on that one if you want to upgrade.

[Anonymous]

what is the rebuilder card? I just got two new cards with them $300 each.  How do I know if they are rebuilder cards?

[BetterTomorrow]

Thanks for all your help... I'll keep you guys updated.

[Anonymous]

Hey BetterTomorrow, I have two Capital Ones and tried to get them to let me cobine them but one was a Visa and one was a MC and they said they can't be combined. Of course I only tried once and it was late at night so I may have been speaking to someone who didn't know what they were talking about...

Anywho, if you have a Visa/MC combination and are able to combine the accounts, let me know. I'd like to do this.

[BetterTomorrow]

berraco58, one of the three is a Master Card. I'll let you know if they will let me combine all three. If they didn't do it for you, I'm pretty sure they won't do it for me either but I'll try anyway...