Hello all. New to the forums and already have AMEX questions! :)

[Anonymous]

First I would like to say "hello" to everyone.  I am in the Marines and I am currently deployed to Iraq .  While in Iraq, this website has been a well of knowledge in my eventual pursuit to get my credit back on track.

After reading post after post, i decided to get the Score watch, i got all 3 credit reports on there as well as picking up truecredit. 

Once i seen my scores and what everyone else did with similiar scores, I decided to apply for the Blue from AMEX and was instantly approved with a CL of $3.5k.  Since i was a happy camper at this point, I then decided to try for the Blue Cash and got the 7-10 day screen.  On day 3 i called them and they approved with a CL of $2.9k.

Now, my intent was to cancel the Blue and keep the Blue Cash and ask for a CLI on it.  I plan to pay most expenses utilizing the Blue Cash and benefit from the 1% and eventual 5% cash back rewards.  Pay with the Blue Cash, then pay off whatever i put on there with cash. 

Now that i painted a picture, here is my question.  Since i am already approved for both blues, should i just keep the regular Blue open and stick it in the sock drawer as i only plan on using the Blue Cash AMEX?  Like i said before, now that i have the Blue Cash, i had planned on canceling the regular Blue AMEX. 

Would keeping them both open have an overall better impact on my credit in the long term?  The short term draw back is from both of these cards been seen as "new" and could potentially decrease the "average" age of my accounts.  But wouldnt the benefit of having both open eventualy increase my FICO?

My scores range around 661-690 through the 3 credit bureaus with EX being the highest and EQ being the lowest.  They are still quite low from my wife going crazy with the power of attorney on past deployments.  Having her attain 5-7 credit cards in my name then maxing and not paying them off hurts quite a bit.   Luckily i was able to catch most of them, and i recently sent out GW and PFD letters!

Thanks for your time and i look forward to posting on these boards for quite a while.

Robo

[Anonymous]

Both are very decent Credit limits. I think you should keep them both. I applied for like 4 credit cards in the past month, 2 appeared on the reports but had 0 point effect on my score so far.

[Anonymous]

Congratulations on the two Amex cards and thank you for serving our country. I appreciate the hard work and sacrifice you and others like you make for us to be safe at home. Since, they are both prime cards, they will only serve to help your credit in the long run. I would not cancel Blue. Just keep it in the sock drawer and purchase no more than 10 dollars a month on it and pay it in full. You have to charge something on it to reap the benefits of a positive TL. That is the only way they will report and figure into your FICO is by using it. Good luck. You already have good scores and they will only get better. Keep up the good work. Cecilia

[Anonymous]

Having both credit lines will positively effect your Util. % and should increase your scores.

[Anonymous]

I don't have an answer to your question, but THANK YOU for your service to our country!!!

[Anonymous]

I agree, don't cancel them.  This is all a game and you have to play it.  The more positive TLs you have on your report  the better for you in the long run.  Just don't completely lock it away, buy a cup of coffee every once in a while, then pay it off.

Be safe ok?

-trini

Message Edited by trinigal on 07-09-2007 08:05 AM

[Anonymous]

Great,

Thanks for all of the feed back.  I guess i will keep both blues and mainly use the blue cash while charging on the regular blue everyone once in a while.

Also, all of us over here appreciate the words of encouragement on this post.  It is our job and it is what we do, but it is always nice to hear it from the home fort!! 

Since finding this sight, i have recommended quite a few military personnel to check it out, as the information here is incredible for anyone wishing to improve their financial situation.

Thanks,

Robo

[Anonymous]

Just wanted to say welcome.....and thanks again for all you do in protecting our country. There will always be a very special place in my heart for people of your kind!!! God Bless you all!!!

[Anonymous]

Welcome, and yup, you've got the right idea, keep both Blues and keep util down.

It's always amazing to me to hear that people half a world away are tuned in here.  Thank you for your incredible sacrifice and hope you return stateside safe and soon (ooops, did some of my political leanings slip in there?! )

[Anonymous]

I agree with the rest, keep them both. Will greatly benefit your utl %. Also, don't forget to ask for a cli on the cash. (luv button)

And last but not least. Thank you AND your family for serving our country.