Should I close down my low limit cards?

[gsxraddict]

I have the following cards

NFCU - $6,000 - Opened 2012

Credit One - $1000 - Opened 2016

Chase - $800  - Opened 2015

VystarCU $400 - Opened 2012

Capital One - $1300 - Opened 2012

Average age of accounts is 4 years because I have two other revolving loans 3 years old.

Oldest account 12 years.

I'm paying down my utilization to 3% next month and ready to apply for big credit limits.

Current score 670 credit simulators all show over a 730 once utilization hits 3%. I have no negatives at all except one 3 year old 30 day late revolving payment, no collections. 

Should I close down Vystar, Credit One (sucks), and request a 25k increase on NFCU then apply for CSP, Freedom, Venture and Amazon.

What's the best way for me to increase credit limit to big money and increase my scores?

I want to keep the accounts open to keep my average age of account but I'm worried the low limit cards will prevent me from getting a big limit.

Happy Thanksgiving!

[JR_TX]

Definitely close, shut down and burn that Credit One card!
Oh and Happy Thanksgiving!

[Backwoods]

Shred the Credit One and close it. Have you tried to cli or product change the Capital one into a higher limit Cap 1 QS?

[peghede]

low limit cards they will keep you from high limit cards /or high cli.

CLOSE -------------> Chase,Crap1,and Credit1.

KEEP OTHER ONES!

[RadioRob]

Get rid of the Credit One for sure. Not so sure on the rest. Personally if I was goi g for CSR I would hold the Chase and combine it with whatever SL you get. Remember CSR min starting is 10K and Chase likes histories where it’s not the first big limit. So get you NFCU bumped as well!

Good luck!

[kcribb1]

CLOSE CREDIT ONE NOW!!

[NRB525]

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@peghede wrote:

low limit cards they will keep you from high limit cards /or high cli.

CLOSE -------------> Chase,Crap1,and Credit1.

KEEP OTHER ONES!

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No, low limit cards won’t be a factor to limit getting higher limit cards. The low limit cards will be visible on your report anyhow, so closing them will not hide them from any lender. 

Where the low limit cards matter is, if you ONLY have a few low limit cards and nothing else, it is part of the stair step you have to go through to get higher limits. 

OP, close CreditOne for sure. Keep Chase and Capital One open, they will help with your internal score with those banks. 

[Asgardian]

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@NRB525 wrote:

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@peghede wrote:

low limit cards they will keep you from high limit cards /or high cli.

CLOSE -------------> Chase,Crap1,and Credit1.

KEEP OTHER ONES!

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No, low limit cards won’t be a factor to limit getting higher limit cards. The low limit cards will be visible on your report anyhow, so closing them will not hide them from any lender. 

Where the low limit cards matter is, if you ONLY have a few low limit cards and nothing else, it is part of the stair step you have to go through to get higher limits. 

OP, close CreditOne for sure. Keep Chase and Capital One open, they will help with your internal score with those banks. 

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Not true. Some lenders do consider that in their determinations. In determining my credit limit for NFCU, they specifically referenced the lower limit cards "open" in my credit file. 

Closed cards are irrelevant. 

[NRB525]

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@Asgardian wrote:

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@NRB525 wrote:

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@peghede wrote:

low limit cards they will keep you from high limit cards /or high cli.

CLOSE -------------> Chase,Crap1,and Credit1.

KEEP OTHER ONES!

---

No, low limit cards won’t be a factor to limit getting higher limit cards. The low limit cards will be visible on your report anyhow, so closing them will not hide them from any lender. 

Where the low limit cards matter is, if you ONLY have a few low limit cards and nothing else, it is part of the stair step you have to go through to get higher limits. 

OP, close CreditOne for sure. Keep Chase and Capital One open, they will help with your internal score with those banks. 

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Not true. Some lenders do consider that in their determinations. In determining my credit limit for NFCU, they specifically referenced the lower limit cards "open" in my credit file. 

Closed cards are irrelevant. 

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What was your list of cards and their limits at the time of that NFCU review?

[kugel]

CLOSE CREDIT ONE NOW PLEASE