So, I have like five CCs. Four secured and the silly Target for 200. Honestly, I only wanted to open two credit cards, but NFCU was too tasty to resist and I've opened Coke to help with mortgage approval. I found another CU that offers a secured CC with 6.9% APR. And I can put $10k no problems. Plus, like NavyFed and Coke, no annual fee. The APR is fixed, not variable and no cash advance fee, like NFCU and Coke! So the question is, my original two cards are Cap1 and PNC. I am thinking about closing PNC. I never really use it and the $36 annual fee is the highest. And Cap1 is my only card whose APR isn't in the teens (22.9%). But as my credit score (EQ FAKO is 456), I do not want to hurt myself more. So I am thinking about either just starting the card and transferring these balances to it, or paying the balances and then saving up for the card. So, I ask advice. IF you were me, would you close one of these cards. I'd rather juggle a few higher limit cards than several low to mid limit cards.
Starting scores: EQ 420, EX 421, TU 405 (Jan 2011) Bk Ch 7 Discharged Mar 2011 Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551) Goal scores: EQ 700+, EX 700+, TU 700+
Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)