What to do

[Anonymous]

These are the cards I currently have

orchard bank     200 cl   (secured card, can not get them to graduate it for the life of me)  have had the card for almost 4 years.

household bank 300 cl      have had the card for 5 months

capital one   300 cl              have had the card for 5 months

barclays      1400 cl           Just got the card

discover      1000 cl           Just got the card

store card    4000 cl

store card    250 cl

Would it be a bad idea to close my orchard bank, capital one, and household bank cards to avoid having to pay the annual fee's on them. I have recently gotten some much better cards without annual fee's

Closing a account would not hurt my average age of account, would it?

Give me some expert advise please

[mAndrew1980]

Well, from what I understand, length of time with CC's is important. So the longer history you have with an account, the better your credit profile will appear to lenders. However, all your CC's were opened fairly close to each other with the exception of Ochard. So in this case, not sure how much difference it will make. But keeping the Orchard would be wise, AF or not.

I see you got a Barclay's CC with a 640 TU FICO. Would you mind sharing whether or not you have any baddies on your reports?

[LishaJoy]

I also got a Barclay card with a 640ish score.  At the time I did have baddies.  At the time I had 3 credit cards that were charged off (all three were paid).  A paid judgement.  Three accounts that showed at least 1 30-60 day late payments.

The credit cards were all reporting paid and all are at least 4-5 years old.  The late payments at the time were all 4 years old or more. 

My initial CL was 1290 and once I called in the backdoor number I got it increased to 2300!  Gotta love those backdoor numbers.

Anyway, as a disclaimer, I had some financial diffucilties back in my younger days (young, naive, and irresponsible behavior for most)  and now that they are all paid off I am just playing the waiting game until the last two fall off.  Waiting...........

[Anonymous]

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@Anonymous wrote:

These are the cards I currently have

orchard bank     200 cl   (secured card, can not get them to graduate it for the life of me)  have had the card for almost 4 years.

household bank 300 cl      have had the card for 5 months

capital one   300 cl              have had the card for 5 months

barclays      1400 cl           Just got the card

discover      1000 cl           Just got the card

store card    4000 cl

store card    250 cl

Would it be a bad idea to close my orchard bank, capital one, and household bank cards to avoid having to pay the annual fee's on them. I have recently gotten some much better cards without annual fee's

Closing a account would not hurt my average age of account, would it?

Give me some expert advise please

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First regarding the Orchard Card...can you get them to remove the AF or at least waive it for this year?

Two are you a member of any local credit union or any credit union?

[Smug]

Barclays, I also got 1290.00 called and got 5k, I would not close your oldest card, my cap 1 is my oldest but has noAF

[Anonymous]

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@Anonymous wrote:

These are the cards I currently have

orchard bank     200 cl   (secured card, can not get them to graduate it for the life of me)  have had the card for almost 4 years.

household bank 300 cl      have had the card for 5 months

capital one   300 cl              have had the card for 5 months

barclays      1400 cl           Just got the card

discover      1000 cl           Just got the card

store card    4000 cl

store card    250 cl

Would it be a bad idea to close my orchard bank, capital one, and household bank cards to avoid having to pay the annual fee's on them. I have recently gotten some much better cards without annual fee's

Closing a account would not hurt my average age of account, would it?

Give me some expert advise please

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AAoA will not be hurt.   The accounts will stay on your report for 10 years and contribute the same as open accounts.  

The Orchard and Household will become Capital One cards next year and you don't really need 3 from Cap1.   I suggest you close the secured card.   Try to get the Household annual fee waived, (they often do this). You need to call 1 month before the annyual fee.   I suggest you wait until AF is due for Capital One before deciding on it.   

[Anonymous]

My Tu shows 5 baddies, 4 of which will fall off in the next 6 months, the other is for $60. I had 7 inq's when I applied. I was denied but called for recon and was approvved after talking for 10 minutes. I have a perfect payment history on all my cc's and I had 8% utl when I applied

[Anonymous]

I was a member of a credit union but they were retarded so I closed the account. At the time my scores were not that good and they would not issue a credit card or personal loan...

I am confused on closing a credit card. Even if you close it, shouldn't it report for 10 years which will keep you aaoa.

I really don't have to worry about the cap1 and hh bank accounts as I have 7 months before the af is due. The AF on the Orchard is up next month

[Anonymous]

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@Anonymous wrote:

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I am confused on closing a credit card. Even if you close it, shouldn't it report for 10 years which will keep you aaoa.

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Yes , the AAoA is based on all accounts (open and closed)

[Ms-Kato]

I'm thinking of disputing EQ for removing tradelines (CC's) in good standing that had less than 10 years.

What's my chances of getting them back on my credit report ?

Better yet..Is EQ obligated to put them back on my report or am I wasting my time trying ?