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After my recent approvals i have all of these cards now:
Chase (authorized user) 7500 (18 months old)
Wells Fargo Secured 4000 (15 months old)
Capital One 3500 (16 months old)
Macys 2500 (15 months old)
Macys 1300 (club account) 9 months old
Macys 800 (major account) 4 months old
Merrick Bank 850 (12 months old)
Chevron/Texaco 600 (13 months old)
Walmart 2800 (9 months old)
Dillards 900 (9 months old)
Discover 1500 (8 months old)
Bank of America Secured 2000 (11 months old)
new tradelines during March app spree
Bank of America 2000
Citibank 2000
AMEX 2 cards 1 charge , 1 revolver (2000) will show both backdated to 2011
You guys think i have many cards? should i close a couple of them...I am going to close Merrick Bank and i was thinking closing Chevron/texaco (GE hasnt shown me luv for some reason). I was actually thinking of Dillards (even though i shop there a few times a year). I hate that Macys opened 2 new tradelines without really telling me. Any suggestion or should i just keep my all of my cards open. I dont plan to apply for anything else anytime soon except for the AMEX Costco but will not be at least until 6 months from now.
Always a personal decision!
A general guideline would be "If you have enough CL/low util without them, close cards with AF that exceed benefits"
Anything else depends on whether having lots of cards makes things difficult to track.
Many advocate keeping the cards open by spending small amounts on each every so often, but there is a real cost to that (in lost rewards doing that spend on better cards) and this, to me, isn't worth while unless you need every bit of the current CL.
@dodgerslv wrote:After my recent approvals i have all of these cards now:
Chase (authorized user) 7500 (18 months old)
Wells Fargo Secured 4000 (15 months old)
Capital One 3500 (16 months old)
Macys 2500 (15 months old)
Macys 1300 (club account) 9 months old
Macys 800 (major account) 4 months old
Merrick Bank 850 (12 months old)
Chevron/Texaco 600 (13 months old)
Walmart 2800 (9 months old)
Dillards 900 (9 months old)
Discover 1500 (8 months old)
Bank of America Secured 2000 (11 months old)
new tradelines during March app spree
Bank of America 2000
Citibank 2000
AMEX 2 cards 1 charge , 1 revolver (2000) will show both backdated to 2011
You guys think i have many cards? should i close a couple of them...I am going to close Merrick Bank and i was thinking closing Chevron/texaco (GE hasnt shown me luv for some reason). I was actually thinking of Dillards (even though i shop there a few times a year). I hate that Macys opened 2 new tradelines without really telling me. Any suggestion or should i just keep my all of my cards open. I dont plan to apply for anything else anytime soon except for the AMEX Costco but will not be at least until 6 months from now.
You can have too many cards*!!!!!
*Except if they have AF's, then you should axe those if they are not in use.
Why do you have 3 Macy's cards?
I wouldn't axe any cards right now since they are all young. See what growth you get in the coming months, then pick the ones to close. Although, in the future, I'd think about trying to get rid of the secured cards or unsecuring them if possible. The Merrick card too. But I'm biased because I don't like them at all.
Thanks for all the info guys/gals. My utilizations is usually hovering around 10-12%. I think the only for sure im going to probably close is Merrick Bank, they have an annual monthly fee (which i dont like). Other than that then i will let them age a while longer.