@afbar1114 wrote:i feel like i am at a point were i will be able to get more prime cards so i am going to be closing some here is what i plan on doing. i am starting to get higher limits as well
Closing:
1st premier-CL$350
Bestbuy MC-CL$300
Cap1-CL $750
No Hassle Rewards-$500
Keeping:
Amex-NPSL
Chase slate-CL $500 (hoping it grows more)
Bestbuy store Card- CL $1000
Kohls- CL$500
HomeDepot- CL $1100
Jared- CL $2500
i feel like the cards i close are hurting me more then helping maybe in six months when i close at least two of them i will try for a citi, discover, or blue
any thoughts?
What is your AAoA and list the ages of your cards pls.
@afbar1114 wrote:i feel like i am at a point were i will be able to get more prime cards so i am going to be closing some here is what i plan on doing. i am starting to get higher limits as well
Closing:
1st premier-CL$350
Bestbuy MC-CL$300
Cap1-CL $750
No Hassle Rewards-$500
Keeping:
Amex-NPSL
Chase slate-CL $500 (hoping it grows more)
Bestbuy store Card- CL $1000
Kohls- CL$500
HomeDepot- CL $1100
Jared- CL $2500
i feel like the cards i close are hurting me more then helping maybe in six months when i close at least two of them i will try for a citi, discover, or blue
any thoughts?
It seems to be true that many lenders hold their noses at apps from those who have a lot (note: "a lot") of rebuilder cards. They don't hurt your scores, of course.
I would certainly close any that have AF's, right before the fee hits, if not sooner.
The main thing is to make sure that your reported util is very low, because you don't have that large of a total CL, so even losing a $500 card will have an impact if you let balances report.
And the closed cards should continue to report for 10 years after closing, and so even if they no longer help your util, they will help your AAoA, and your longest history, if one is your oldest account.
Closed accounts have been known to fall off early, especially on Equifax, and this is often linked to frequent pulling of your EQ report (= racking up lots of softs), for whatever reason. 
Just a little something to keep in mind.
@afbar1114 wrote:2..3 years has of today
1st premier opened jan 2009
cap1 and bestbuy mc opened may 2011
kohls july 2011
homedepot aug 2011
no hassle rewards opened dec 2011
jared opened dec 2011
amex chase and bestbuy store card jan 2012
Drop the FP, keep the others.
@haulingthescoreup wrote:
@afbar1114 wrote:i feel like i am at a point were i will be able to get more prime cards so i am going to be closing some here is what i plan on doing. i am starting to get higher limits as well
Closing:
1st premier-CL$350
Bestbuy MC-CL$300
Cap1-CL $750
No Hassle Rewards-$500
Keeping:
Amex-NPSL
Chase slate-CL $500 (hoping it grows more)
Bestbuy store Card- CL $1000
Kohls- CL$500
HomeDepot- CL $1100
Jared- CL $2500
i feel like the cards i close are hurting me more then helping maybe in six months when i close at least two of them i will try for a citi, discover, or blue
any thoughts?
It seems to be true that many lenders hold their noses at apps from those who have a lot (note: "a lot") of rebuilder cards. They don't hurt your scores, of course.
I would certainly close any that have AF's, right before the fee hits, if not sooner.
The main thing is to make sure that your reported util is very low, because you don't have that large of a total CL, so even losing a $500 card will have an impact if you let balances report.
And the closed cards should continue to report for 10 years after closing, and so even if they no longer help your util, they will help your AAoA, and your longest history, if one is your oldest account.
Closed accounts have been known to fall off early, especially on Equifax, and this is often linked to frequent pulling of your EQ report (= racking up lots of softs), for whatever reason.
would you close the ones on my list? not closing chase or amex at all
@haulingthescoreup wrote:
@afbar1114 wrote:i feel like i am at a point were i will be able to get more prime cards so i am going to be closing some here is what i plan on doing. i am starting to get higher limits as well
Closing:
1st premier-CL$350
Bestbuy MC-CL$300
Cap1-CL $750
No Hassle Rewards-$500
Keeping:
Amex-NPSL
Chase slate-CL $500 (hoping it grows more)
Bestbuy store Card- CL $1000
Kohls- CL$500
HomeDepot- CL $1100
Jared- CL $2500
i feel like the cards i close are hurting me more then helping maybe in six months when i close at least two of them i will try for a citi, discover, or blue
any thoughts?
It seems to be true that many lenders hold their noses at apps from those who have a lot (note: "a lot") of rebuilder cards. They don't hurt your scores, of course.
I would certainly close any that have AF's, right before the fee hits, if not sooner.
The main thing is to make sure that your reported util is very low, because you don't have that large of a total CL, so even losing a $500 card will have an impact if you let balances report.
And the closed cards should continue to report for 10 years after closing, and so even if they no longer help your util, they will help your AAoA, and your longest history, if one is your oldest account.
Closed accounts have been known to fall off early, especially on Equifax, and this is often linked to frequent pulling of your EQ report (= racking up lots of softs), for whatever reason.
I have always thought this . But I see it becoming obvious these days
@afbar1114 wrote:
@haulingthescoreup wrote:
@afbar1114 wrote:i feel like i am at a point were i will be able to get more prime cards so i am going to be closing some here is what i plan on doing. i am starting to get higher limits as well
Closing:
1st premier-CL$350
Bestbuy MC-CL$300
Cap1-CL $750
No Hassle Rewards-$500
Keeping:
Amex-NPSL
Chase slate-CL $500 (hoping it grows more)
Bestbuy store Card- CL $1000
Kohls- CL$500
HomeDepot- CL $1100
Jared- CL $2500
i feel like the cards i close are hurting me more then helping maybe in six months when i close at least two of them i will try for a citi, discover, or blue
any thoughts?
It seems to be true that many lenders hold their noses at apps from those who have a lot (note: "a lot") of rebuilder cards. They don't hurt your scores, of course.
I would certainly close any that have AF's, right before the fee hits, if not sooner.
The main thing is to make sure that your reported util is very low, because you don't have that large of a total CL, so even losing a $500 card will have an impact if you let balances report.
And the closed cards should continue to report for 10 years after closing, and so even if they no longer help your util, they will help your AAoA, and your longest history, if one is your oldest account.
Closed accounts have been known to fall off early, especially on Equifax, and this is often linked to frequent pulling of your EQ report (= racking up lots of softs), for whatever reason.
would you close the ones on my list? not closing chase or amex at all
Sure, IF they have fees, and IF you have low (as in nearly $0) reported balances.
You have to pay attention to what might happen to your scores if you have balances reporting and you reduce your total CL's. It ain't pretty.
IMO, it's perfectly reasonable to close no-fee cards too, if they bug you for some reason, and they're not helping you, and you don't need them for util.
But think it through first.
Read fused's "Closing Credit Cards" in my siggy for a great guide to thinking through the process.