Close that Merrick Bank card. It's just costing you money and you have far better cards already.
Close it.
I closed Merrick, First Premier, two Credit Ones, Total, First Access, Indigo, Aspire, and two (bucketed) Capital Ones about 6 months ago, all in the same week. Total CL loss was $9K over 10 cards. They served their purpose. I currently have WF, Apple, Barclays, PenFed, Amex, Discover, and Venmo with CL total of $77K over 7 cards. I'm happy with the tradeoff!
@NYC_Fella wrote:Close it.
I closed Merrick, First Premier, two Credit Ones, Total, First Access, Indigo, Aspire, and two (bucketed) Capital Ones about 6 months ago, all in the same week. Total CL loss was $9K over 10 cards. They served their purpose. I currently have WF, Apple, Barclays, PenFed, Amex, Discover, and Venmo with CL total of $77K over 7 cards. I'm happy with the tradeoff!
Holy....
Did closing so many have any impact on your score?
@collics wrote:
@NYC_Fella wrote:Close it.
I closed Merrick, First Premier, two Credit Ones, Total, First Access, Indigo, Aspire, and two (bucketed) Capital Ones about 6 months ago, all in the same week. Total CL loss was $9K over 10 cards. They served their purpose. I currently have WF, Apple, Barclays, PenFed, Amex, Discover, and Venmo with CL total of $77K over 7 cards. I'm happy with the tradeoff!
Holy....
Did closing so many have any impact on your score?
Not much impact that I could discern. My big positive was a surprising WF approval for a $22K SL, which was more than double what all those combined crappy cards were giving me. The increased credit availability gave me the motivation and confidence to close the crappy cards. I thought long and hard about keeping the Capital Ones open but they had a combined $1600 limit and were refusing to give me any CLIs, so I dumped them as well.