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Which Credit Cards to Close ?? Advice

Auto Loans for ANY Credit Situation. Immediate Response.
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Frequent Contributor

Re: Which Credit Cards to Close ?? Advice

I have a Tottal of 4 CC's

 

Orchard bank: 350 or something like that

First Premier: 1)450 cl , 2)350 cl

NFCU:  6000 Cl


Starting Score: 589 / TU: 600
Current Score: 696 / TU: 696
Goal Score: 700 / TU: 700


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Message 11 of 28
Valued Contributor

Re: Which Credit Cards to Close ?? Advice


@frio wrote:

I have a Total of 4 CC's

 

Orchard bank: 350 or something like that

First Premier: 1)450 cl , 2)350 cl

NFCU:  6000 Cl



Hi frio,  could you please list your ccs in the below ... so we can see easily about your ccs and able to give you more better opinions.  Thanks!

 

CC Issuer

Date Opened

CL

APR

AF (if any)

Balance

First Premier

mm / 2008

$450

00.0%

 

$

First Premier

 mm / 2010

$350

00.0%

 

$

Orchard

mm / yyyy

$350

00.0%

 

$

NFCU

mm / yyyy

$6000

00.0%

 

$

 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 12 of 28
Frequent Contributor

Re: Which Credit Cards to Close ?? Advice


@bunnyrabbit wrote:

@frio wrote:

I have a Total of 4 CC's

 

Orchard bank: 350 or something like that

First Premier: 1)450 cl , 2)350 cl

NFCU:  6000 Cl



Hi frio,  could you please list your ccs in the below ... so we can see easily about your ccs and able to give you more better opinions.  Thanks!

 

CC Issuer

Date Opened

CL

APR

AF (if any)

Balance

First Premier

mm / 2008

$450

00.0%

 

$

First Premier

 mm / 2010

$350

00.0%

 

$

Orchard

mm / yyyy

$350

00.0%

 

$

NFCU

mm / yyyy

$6000

00.0%

 

$

 

 


 

CC Issuer

Date Opened

CL

APR

AF (if any)

Balance

First Premier

mm / 2008

$450

9.9%

$48.00

$200.00

First Premier

 mm / 2010

$350

20.15%

 $48.00

$120.00

Orchard

mm / yyyy

$350

14.90%

 $79.00

$200.00

NFCU

mm / yyyy

$6000

15.0%

 none

$2164.00

 


Starting Score: 589 / TU: 600
Current Score: 696 / TU: 696
Goal Score: 700 / TU: 700


Take the FICO Fitness Challenge
Message 13 of 28
Frequent Contributor

Re: Which Credit Cards to Close ?? Advice

Just spoke to Orchard Bank and it just so happens that my Annual Fee is coming up this Month.  I called them and they said they would cut it in half and after my first full year with them wich is the 19th of this Month they will check my account which is excellent and see what else they can do.  Im getting pretty much sick of this company !!!


Starting Score: 589 / TU: 600
Current Score: 696 / TU: 696
Goal Score: 700 / TU: 700


Take the FICO Fitness Challenge
Message 14 of 28
Frequent Contributor

Re: Which Credit Cards to Close ?? Advice

Please I need advice from those of you who have been there and those of you who have good insight


Starting Score: 589 / TU: 600
Current Score: 696 / TU: 696
Goal Score: 700 / TU: 700


Take the FICO Fitness Challenge
Message 15 of 28
Valued Contributor

Re: Which Credit Cards to Close ?? Advice


@frio wrote:

 

CC Issuer

Date Opened

CL

APR

AF (if any)

Balance

First Premier

mm / 2008

$450

9.9%

$48.00

$200.00

First Premier

 mm / 2010

$350

20.15%

 $48.00

$120.00

Orchard

mm / yyyy

$350

14.90%

 $79.00

$200.00

NFCU

mm / yyyy

$6000

15.0%

 none

$2164.00

 



Please add these info.  Thanks!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 16 of 28
Highlighted
Frequent Contributor

Re: Which Credit Cards to Close ?? Advice

 


@bunnyrabbit wrote:

@frio wrote:

 

CC Issuer

Date Opened

CL

APR

AF (if any)

Balance

First Premier

mm / 2008

$450

9.9%

$48.00

$200.00

First Premier

 mm / 2010

$350

20.15%

 $48.00

$120.00

Orchard

mm / yyyy

$350

14.90%

 $79.00

$200.00

NFCU

mm / yyyy

$6000

15.0%

 none

$2164.00

 


Please add these info.  Thanks!

CC Issuer

Date Opened

CL

APR

AF (if any)

Balance

First Premier

02/ 2010

$450

9.9%

$48.00

$200.00

First Premier

11/ 2008

$350

20.15%

 $48.00

$120.00

Orchard

05 / 2010

$350

14.90%

 $79.00

$200.00

NFCU

04 / 2011

$6000

15.0%

 none

$2164.00

 

Here you go ...some updated and corrected things

 

 

 

 


Starting Score: 589 / TU: 600
Current Score: 696 / TU: 696
Goal Score: 700 / TU: 700


Take the FICO Fitness Challenge
Message 17 of 28
Regular Contributor

Re: Which Credit Cards to Close ?? Advice

You're sitting at just below 50% utilization.  Closing those cards won't make a dent IF your NFCU card is truly $6k.  If I were you I'd close every card except NFCU.  At credit limits that low it just won't make a difference.  Then you can focus your cash on paying NFCU down.

Credit Cards:
| Cabrillo Credit Union MasterCard @ $3,000 | Chevron Visa @ $2,000 | Amazon Store Card @ $1,800 | HSBC 2% Rewards MasterCard @ $950 (redeemed themselves)
Message 18 of 28
Valued Contributor

Re: Which Credit Cards to Close ?? Advice


@ReVeLaTeD wrote:

You're sitting at just below 50% utilization.  Closing those cards won't make a dent IF your NFCU card is truly $6k.  If I were you I'd close every card except NFCU.  At credit limits that low it just won't make a difference.  Then you can focus your cash on paying NFCU down.



I agree ~        IMO, to me, those small CL with that amount of AF is ridiculous.  As long as those three ccs are in good standing, PIF the balance and then close it all.  Good history will stays on your CR for next 10 yrs as long as they report it.   Then later on, app for the NO AF cc with the rewards that fit in your spending style and rewards that benefit you.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 19 of 28
Frequent Contributor

Re: Which Credit Cards to Close ?? Advice

I guess my next question is once I PIF and close out the those cc's what should I expect to happen to my Score ??

I dont want it to negatively impact the score


Starting Score: 589 / TU: 600
Current Score: 696 / TU: 696
Goal Score: 700 / TU: 700


Take the FICO Fitness Challenge
Message 20 of 28
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