When to close cards

[Anonymous]

I recently started rebuilding credit this past year. I opened Comenity cards that I don't really want or use. Two have consistently refused CLI's for me while two have been growing. I'm considering closing the two with lower limits. Does that hurt my overall profile? I can just put them in the sock drawer and leave them alone. Also, I opened a Credit One when I started to rebuild. It's over a year old now. My overall AAoA is 13.7 years thanks to my mortgage I want to streamline my accounts and focus on building the primary cards. Any advice is welcome. My goal is to get my scores into the 700's

[gdale6]

Moving this to the main credit forum for better coverage.

[FireMedic1]

Just from your signature. You have enough cards. A couple prime cards. You have a credit mix with the house. Question is what is your utilization on the cards. Do you practice AZEO? Your right on the cusp of 700. Personally & JMO. Credit One can take a hike. The 2 you dont want, need, or use, close em. Upgrade the Cap1 Plat to QS for CB. The worst baddie is gone the BK is now DC'cd. Any lates left or high balnce cards now?

[Anonymous]

My overall utilization is 8%, and this was before the addition of the 10K from PenFed so it's likely lower now. All of the comenity cards and Credit One are at zero balances. I'm working towards AZEO, I just read about this the past week. I have no lates and no baddies outside of the BK still reporting. Thanks for confirming to rid myself of Credit One, they were a good starter for me but now I really have no use for it other than the sock drawer.

[xaximus]

As stated - close the CreditOne as that is a subprime lender. For the Store cards - close the ones that you don't need. They will report for upto 10 years so there is no loss in that other then the drop in TCL. As long as you keep your utilization under 8%, you should be fine. How long have you had the Cap1 card? If it has been awhile, it may be worth apping for a new card (3x Pull, which IMHO, is annoying but if the card is in credit steps and graduated, you can definitely get a better card with a better SL.) That however is upto you if you want to risk the 3x pull.

The only other thing I would add would be another Amex card if it suits you. Since you already have one, the next card would only be an SP, so if there's a card that looks good, something to think about.

[FireMedic1]

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@Anonymous wrote:

My overall utilization is 8%, and this was before the addition of the 10K from PenFed so it's likely lower now. All of the comenity cards and Credit One are at zero balances. I'm working towards AZEO, I just read about this the past week. I have no lates and no baddies outside of the BK still reporting. Thanks for confirming to rid myself of Credit One, they were a good starter for me but now I really have no use for it other than the sock drawer.

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Great decision to close Credit One. If any of your cards are over 8.99% and go below that you'll get a bump once you initiate AZEO. 700 should be easy to hit especially after your new account ages a few months or AZEO beats it to it. On a side note. Thanks for your service in your field. Good Luck!!!!!!!!!!!