Well I finally did it, I closed 3 of my cards today.

[adavis425]

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@ilovelisa wrote:

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@adavis425 wrote:

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@ilovelisa wrote:

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@starry1 wrote:
Good for you! I know a lot of the posters here don't believe in closing cards, but I'm like you and don't see a reason for crap cards you will never use.

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Exactly, why keep what I will never use, and so what if I take a hit to my AAoA, its only like 5 months anyway, since I have opened alot of account recently.

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Nope, no hit. It'll report positively for ten years!   Great feeling to drop a useless card, right? Congrats!

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Thats perfect, positive for TEN years .And it does feel really great to drop them, and even the exec office wouldn't help me to get an  increase, or try to get me to keep those 2 cards.

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Yup, I had the same experience when I closed my Merrick Visa. I wasn't even looking for an increase. I would have kept the card if they had simply allowed me to pay my AF in a lump sum instead of $3 per month. They refused, I closed it and I am glad I did. JCP may be next.....

[QueenofReinvention]

Good for you! I agree, I don't believe in keeping cards that aren't good/have a lot of fees! I am looking forward to my closings! I am strategically closing cards throughout this year. The first card to go will be 1st Premier card in March, as I'll be PIF then! On the chopping block. I paid my Orchard Card off, so I'm debating if I'm going to close that one or not. It's AF is low, and the interest rate is low, so it's not a horrible card (besides the $300 CL). But, I have 4-5 cards being cut by the end of this year as they paid off!

[NewYorkGuy]

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@starry1 wrote:
Good for you! I know a lot of the posters here don't believe in closing cards, but I'm like you and don't see a reason for crap cards you will never use.

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I closed my Crap 1 cards last year because they had annual fees and Crap One refused to waive the fees. They also had low limits and I didn't want to be stuck with the low limits plus the annual fees. I also closed my First Premier and New Millennium Bank cards - Boy that felt good! I did that after receiving a bunch of prime cards in my successfull app-o-rama last year.

Nonetheless, I would never close a card without annual fee no matter how worthless it is or how outrageous the interest rate is. As long as you don't carry a balance on the card it doesn't cost you a thing. It benefits your credit profile to keep that tradeline open on your report. Just use it once per year by making a tiny purchase and then PIF to keep it active and you are golden. Generally I am very allergic to annual fees and that is the primary reason why I would want to close a card. My Amex Zync NPSL is next on the chopping block. I plan to close it as soon as I get an amex revolver with no annual fee. No card no matter how good can justfiy an annual fee for me. I don't like the idea of paying for the privilege of credit when I can get it for free.

[Anonymous]

I like to have just 1 maybe 2 cards, is not great for your score but is easy to keep track of them. I do not apply to any cc with AF. I'm on the verge of closing my crap1 if I get approved for a barclay BJ cc.

[p-]

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@ilovelisa wrote:

I've been telling myself I was going to close some of them. I called the Cap 1 exec office to see if they could take the limits from my newcomers, and Sony cards, and add them to my journey cards limit. NOPE. 

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Nice.  It seems like Cap1 treats their retail cards the same as their subprimes; i.e. no action.  I bet your Journey will grow with you if you push them along. 

[ilovelisa]

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@p- wrote:

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@ilovelisa wrote:

I've been telling myself I was going to close some of them. I called the Cap 1 exec office to see if they could take the limits from my newcomers, and Sony cards, and add them to my journey cards limit. NOPE. 

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Nice.  It seems like Cap1 treats their retail cards the same as their subprimes; i.e.. no action.  I bet your Journey will grow with you if you push them along. 

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I don't want to be negative about, but I really do not see it growing with me anymore. It is a student card, and I would not be surprised if there is some cap on what CL they can offer on that type of card. I really want to wait for a while, and then apply for one of their "Excellent" credit cards i.e.. Venture or cash rewards. If you have read any of my previous posts about it, they started me on the journey card with a $300 limit, then through credit steps moved it to $500, then after a call to the EO moved it to $2000. When I called today, the person who answered the phone at the EO said, you just called us in November, he was not too pleasant either, so if they keep track of when you call the EO, I don't think they will grant anymore CLI's on that card.

[Anonymous]

I closed my Capone card I only had for 2 months yesterday since I have a Discover It and Chase Freedom card now so no need to pay $19 anual fee for a $300 limit. I tried to plea with them to remove the anual fee but they refused or else I would have kept it.

[Laurie]

What a great feeling! I will be closing my FP as soon as it is paid off next month.   My fault for being ignorant, but realized I was being billed $14.50 per month for the AF rather than a bulk 1-time a year payment.  That is $174 for an AF per year for only a $700 CL!!!  Don't need it anyway, just got approved for a $3000 limit with Alaska :-)  Onwards and upwards!!!

[p-]

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ilovelisa wrote:...I really do not see it growing with me anymore. It is a student card, and I would not be surprised if there is some cap on what CL they can offer on that type of card.

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Maybe after a while you can get them to PC it for you to a better card...

[anna2005]

Good Job! I like your style.