Should I close some cards.

[cbracer1980]

With the recent app spree I went on this month I'm sitting at 14 cards and that scares me just a little.  I manage them well and make sure they are paid off when they need to be but I'm more worried that I just have to many and it might start to look bad. 

I was thinking of closing at least 3 maybe 4 cards over the next 6 months so they don't all drop off at the same time in 10 years.  My oldest card is the Cap1 secured but only by 4 months of the $3000 limit one.  All the other cards are a year to a month old, my AAoA is around 3 years right now since my student loan has been rehab'ed and is in good standing.

The ones in red are over a year old and I do not use at all and would be the first ones I would close a couple months apart from each other.  The ones in purple are a couple months old and would be the last to be closed next year. 

I want to buy a house in 2 years and want to do the right thing, if keeping these open and in the SD is best that's what will happen but I need some help in deciding this.

1. Chase CSP $5000

2. Capital One $3000

3. Amazon Visa $1000 

4 .Walmart $900

5. Wells Fargo Visa $800 

6. Care Credit $800 

7. Capital One Secured $650

8. Discover IT $500 

9. Express $650 

10. One Stop Plus $650

11. Victoria's Secret $650 

12. Capital One Playstaion $300

13. Lowes $300 

14. Buckle $250

Thanks for all the help again and again.

[baller4life]

I would close ones in red. ESPECIALLY Cap One secured!

[ddemari]

I would close cards if you are not carrying any debt. Last month I closed three credit cards and opened three credit cards but I have no revolving debt. I would email the capitalone EO office and see about unsecuring your card and giving you a cli and leaving the two capitalone cards alone. I would close lowes and buckle. Depending on if u use the amazon visa, I would call chase and have them move over your credit limit to CSP and close amazon. Start by closing one or two cards and see what happens. Only do it if you are not revolving. 

[1GaDawg85]

Close the ones you don't need/use

[cbracer1980]

I have talked to the EO a couple times about my other cards and they will no unsecure the card so that is gone for sure. The Lowes card is new and since I'm buying a house in the future I would like to keep that, the amazon I going to wait and PC to the freedom card. All the other cards not colored are to new to cancel right now.

[I_need_720]

I would not cancel the cards issued by GERCB/Synchrony - Amazon, Lowes, Walmart,etc. As I am sure you have read in the forum, CLI increases are almost spot on after every 4th statement (of course you need to have activity each month for the statement to generate - if not this delays the CLI). These TL's can grow steadily and quickly and this will help your overall utilization percentage down road.

[Dw4250]

Close anything you do not use regularly (at least once every 60 days?) and anything that has an annual fee.  In the case of Capital One, if you have annual fees, you may be able to get EO to waive them.

In terms of mortgage prep, as long as you have 2-3 solid revolving credit lines, I think that's all they are looking for.  In fact, it's better if you have no balance/very small balances at the time you apply as they will figure minimum cc payments into your overall DTI ratio.  So if you had say 15 cards each with a $50 minimun payment showing on your CR, they will add $750 into your overall debt.  This could mean the difference between qualifying for a $350,000 house vs. a $250,000 house.

[cbracer1980]

The walmart and lowes cards I want to keep for the CLI that happens to them and the Amazon is the Visa card with Chase.  The EO has waived the fee on my cards a couple times but I have a feeling they are getting tired of dealing with me. 

The main thing is now that I have a couple reward type cards I don't use the store cards because I want travel points and I do plan on getting an Amex card once I get most the INQ's off.

[pizza1]

I'd get rid of 7, 9,10, 11, 12, and 14. You've got better card with discover and chase that will grow. That what I'm doing at the 2 yr mark. I'm closing most of my stores cards leaving 2 maybe 3 open depending if I'm successful at getting cli on my majors over the next two yrs or success in a discover card.

[pizza1]

Your Wally and lowes will grow quickly and big over time, I'd keep those