Which cards are best to close?

[Girlzilla88]

@Anonymous     Yes definitely sounds good be sure to pay them off completely before closing which it sounds like you are thinking about doing      And remember if you are looking into HOME buying next year keep it clean of inquiries for a MINIMUM 3 months before       Keep us posted how it goes so we can add more DPs for other people that may be in similar situations as you

[Girlzilla88]

@Anonymous      On a side note don't have ALL your cards reporting zero as you will get a penalty for that      Be sure to have a Bank card with some utilization showing (Below 8% is fine but above 1% since sometimes they will round down to 0% if you put to little)  

[Anonymous]

When you say Bank card, do you mean a CC from a Bank? And yea, I dont want a lot of zero balances, thats another big reason why I want to get rid of some cards. i dont wanna get overwhelmed and end up in a bad situation. 

[Girlzilla88]

@Anonymous     Bank or Bank Issued card      So if you wanted to keep a small balance on your DISCO or Cap1 card      You can have all the others at zero and keep one reporting that is fine you just don't want all of them to be zero you should do some research on the 8.9%, 29%, 49% etc UTL so you can help keep yourself in good spots     Also look into AZEO that is the method of having one reporting a balance that I am mentioning to you

[HeavenOhio]

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@Kforce wrote:

Parents Amex cards- AU past 15 years- No credit Limit card

Indigo-2 years old- 300 limit

Credit One-2 years old-600 limit

Capital One Quicksilver One-2 years old-750 limit

Merrick Bank-2 years old-1200 limit

Aspire-about a year old-600 limit

Discover It Secure-about a year old-300 limit

First Savings-about a year old-700 limit

Capital One Platinum-1000 credit limit

Paypal Cashback-2000 credit limit.

My 2c

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Welcome, @Anonymous.

This is a good list. If the Merrick card has no annual fee, you can delay closing it for a bit.

Your Capital One Platinum is a good approval. With it's $1,000 starting limit, chances are that you'll be able to grow it with time. In three or four months, call in or chat to see if an upgrade to Quicksilver is available. Being able to upgrade Platinum cards fairly early on is pretty common.

Are you using your QuicksilverOne card regularly? If so, it may be eligible for an upgrade to a no-fee Quicksilver. QuicksilverOnes are notoriously hard to upgrade, but if they're used each and every month for a year or more, there've been some exceptions. If a Quicksilver isn't offered, but the less valuable VentureOne is, take it. The object is to lose the fee. After six months have passed, chances are that a Quicksilver upgrade offer will appear at that point.

[Anonymous]

This is good information to know! I do use the Quicksilver 1 pretty frequently. I was dang near maxed out on most of cards up until this summer and have paid all of them down under 30%. I will try to upgrade it in a couple of months.

[HeavenOhio]

@Anonymous, you can call on the QuicksilverOne right now. If there's no offer available, try again next month. Keep trying each month as long as it doesn't wear you out.

Note that card upgrade offers don't seem to be tied to balances, light use, heavy use, etc. The only usage-related aspect we've seen is continuous use, i.e. using the card and making a payment at least once a month. And that only applies to the QuicksilverOne. The only criterion that seems to apply to Platinum upgrade offers is that you've held the card for a few months.

I was able to upgrade two QS1s after 12 or 13 consecutive months of usage. The cards were well-used during some of those months. But in other months, less than ten dollars would have been charged.

[Anonymous]

Oh nice! I just call and ask if there are any upgrade offers?

[sxa001]

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@Anonymous wrote:

Oh nice! I just call and ask if there are any upgrade offers?

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Yes, you can call and ask them if it is eligible to be upgraded to the QuickSilver.  

[GrandBaker]

@Kforce narrowed it down quite well. One additional step would be to wait for a couple months and see if Capital One would be willing to move the credit line of the new Platinum card in to the older Quicksilver one.