Up to 5 cards, should I downsize or drop and replace one

[Anonymous]

 I'll try to make this quick, just got approved for a $5k CLOC and $4.5k GoRewards CC from NFCU. Those two approvals alone has taken my CL throughout my entire CR from $3900 to a now $13.4k 

Below are my cards/LOC and current debt to credit ratios, I understand that some of these cards are reaching 80% or more but in 3 months I plan to pay everything in full then make small purchases on them to keep them <5%. Till then I will be throwing every extra dollar of income into them. They are also in my sock drawer and on "hold" which means I will not be charging anything to them untill they are all paid off. 

Bank of America Platinum : $600/1000 CL, Never had a CLI increase.. Tried even when my credit was at it's ripest and was still denied. I am thinking my co-signer is limiting me who is my mother. She helped me get this card when I got out of high-school with no credit but she has now extremely bad CC due to mental health issues. Age: 7.5 years

Discover IT: $1.2k/1.9K CL, Last auto-CLI 3-4 months ago from $1.3k to $1.9. Age: 5.2 years

Capital One QS1: $400/500 CL, Last auto-CLI was after the first 6 months. Age: 1.2 years

American Express BCE - $300/500 CL, on steps program. Age: 2 months.

NFCU GoRewards: $0/4500 CL, Age: <1 month

NFCU NavCheck: $0/5000 CL, Age: <1 month

Now my thought is to maybe cut one card out after paying it off, I am really 50/50 about the QS1 card because I feel like it will never grow CL wise as I would want it to. I feel like my AMEX has potential and the rewards/discounts/cashback offers are great. My Bank of America card is my oldest yet has never had a CLI no matter how many times I request one. I believe my co-signer/mother who helped me get it as my first CC/LOC is holding me back, she has bad credit now due to mental health complications, could I get her removed without renewing the age on the account? I can't get her permission due to personal reasons.

I was in love with the QS1 card because after digging myself into the credit hole with collections it was the only card I could get approved for and actually helped with increasing my score, now I don't really use it and Capital One still will not let me PC to better card. The Discover card isn't going anywhere because as of lately Discover has been giving me auto-cli's every 3 months after being stuck at a lower limit because of my credit hurdle, I also see potential with this card and the 5% quarterly cash back and every now plus Discover deals are pretty nice. 

I am thinking of dropping one card completely and letting these cards garden while only going for SP CLI's, especially once my two NFCU accounts starts to report the almost $10k in LOC or dropping one card and try to find another card to throw into the mix then let them age only going for CLI's as my credit score rises.

[austinguy907]

I would get them paid off and then concentrate on hammering them for CLI's.

If you're getting AUTO CLI's then you need to be asking for more from them instead of just waiting.

Hit the button every month on Discover.

Hit the button every 6 months on BOA/Cap1/Amex(3X current limit)

Give the NFCU accounts ~90 days for the AR to occur and then hit them for "MAX" and you'll probably jump up to $25K on each.

I would probably kick mom off the BOA account since it's not moving w/ her on it but, then againit seems like maybe utilization seems to be a root cause for most of them not moving much.  Keeping your oldest account open as long as possible helps you score points on FICO.  

[MrDisco99]

After paying the minimums, focus on paying down the card with the highest interest rate first.

Once it's paid off, see if Cap1 will let you PC the QS1.  If not then drop it.  You're at the point now where you shouldn't have to pay for credit anymore.

Keep the others.  They aren't costing you anything once they're paid off.

[rmduhon]

I don't think a co-signer (do you mean joint) can be removed from anow account without closure of the account.

[mitchblue]

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@rmduhon wrote:
I don't think a co-signer (do you mean joint) can be removed from anow account without closure of the account.

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Correct..

[Anonymous]

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@rmduhon wrote:
I don't think a co-signer (do you mean joint) can be removed from anow account without closure of the account.

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I put in a request through BoA via phone call to a CSR and she gave me a HP then said I will receive a letter in the mail with the decision :/. I'm going to have to just ride this out cause I am really trying to limit my HP's from here on out unless it's going to grant me a good chance of opening a worthy card with a decent SL to increase my ratio. 

With that being said, I think it'll be a denial. BoA is really harsh when it comes to reviews on my CR.

[pipeguy]

You've got good cards that'll grow - personally I agree with you concerning the Cap-1 card, it's not going to hurt you to leave it open but if you don't feel it's going anywhere or you need it, don't worry about closing it IMO. 

[Anonymous]

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@pipeguy wrote:

You've got good cards that'll grow - personally I agree with you concerning the Cap-1 card, it's not going to hurt you to leave it open but if you don't feel it's going anywhere or you need it, don't worry about closing it IMO. 

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I think I'll just settle at where I am now, I will pay off all of my cards and plan to add my SO as an AA for the QS1 after it's balance is paid off so it's gets some usage until they deem me acceptable for a PC to maybe a better card. But from a personal aspect I have zero interest in the card

As far as rewards go, what card should I designate as a daily spender for maximizing rewards/points? My daily purchases mainly occur at gas stations and fast food/restaurants. I rarely make big purchases on novelty/entertainment items. Grocery purchases are also a big thing since me and my SO split groceries she normally gives me cash then I pay with debit or credit.