Is it time to prune the Garden?

[QuakerOatmeal]

So I've been on a credit journey since 2014 to get all my credit ducks in a row.

In 2014, I applied for a job and they basically did a credit check and made me write out a letter stating how sorry I was for being an irresponsible teenager and how I would fix all my credit problems. Initially I was mad, but then I actually took it as an oppurtunity to look at my mess and begin to fix it.

Fast forward to maybe 2-3 years ago, when my credit started improving... I began applying for cards, and they began to approve me.

These are all the cards I have, not including charge cards from AMEX:

BOA Premium Rewards- 40k
Macys AMEX- 20k
AMEX EDP- 15k
Chase Disney- 12.7k
Citi Doublecash- 9.1k
Paypal Mastercard- 8k
Barclay Apple Rewards- 7K
Apple Card- 6.5k
AMEX HHonors Aspire- 6k
Capital One Quicksilver- 5k
Banana Republic- 4k
Amazon Syncbank- 4k
Discover 3.7k
Gamestop- 3k
Nordstrom- 2.5k
Marriot Bonvoy- 1k
Google Acct- 1k
Target Redcard- 300

I know, I know, I have a huge mess of cards. Please don't judge me. Most of them are kept at a zero balance, and almost all of them get used on rotation, then promptly paid in full, and *if* they carry a balance they are kept well below 30% utilization.

I'd like to prune some of these cards though, but I'm nervous that by closing some it would hurt my credit. The ones that come to mind for me (to close) would be the Target Redcard, Capital 1 Quicksilver, Barclay Card with Apple Rewards, and Marriot Bonvoy.

My Gamestop card is my oldest card (5 years old), if it wasn't my oldest I would consider closing it as well.
My Barclay card is my second oldest oldest card (2 years old).

Okay, so this was a very long post... But what would you recommend I do? I mostly just don't want to negatively effect my score!

[Anonymous]

I say close what you don’t need or don’t find value in. I wouldn’t worry much about age - they’ll still report for up to 10 years and still be calculated for average age.

I do have to ask about Target being on the chopping block though. Why? Is it because of the low limit or because you don’t shop there? I just ask because it’s one of the cards that brings me the most value - an immediate 5% off for all purchases is hard to beat. High limits are great, perks are great, etc. but the value the card brings to you should be considered too.

[QuakerOatmeal]

Mostly it's due to my frustration with it being stuck at a 300 CL for over a year now.

Even though I PIF, if I wanted to make a decent sized purchase there, 300 dollars will not help me. 
For example, my sister graduated from school and wanted a futon, she liked one from target but the CL wouldn't cover it.
It's just very annoying that it hasn't grown at all, when my other cards have grown a ton.

I've updated my financial income every month religiously, and even let $1 cut with the statement. But no budging. Maybe if I could talk to a representative? 

Same with my Capital One card, it won't budge past 5,000. I'm guessing its a bucketed account at this point, so it's mostly a dead end.

If the Target card would give me an ounce of love, I'd keep it. But 300 dollars is barely serviceable IMO.

[Anonymous]

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@QuakerOatmeal wrote:

Mostly it's due to my frustration with it being stuck at a 300 CL for over a year now.

Even though I PIF, if I wanted to make a decent sized purchase there, 300 dollars will not help me. 
For example, my sister graduated from school and wanted a futon, she liked one from target but the CL wouldn't cover it.
It's just very annoying that it hasn't grown at all, when my other cards have grown a ton.

I've updated my financial income every month religiously, and even let $1 cut with the statement. But no budging. Maybe if I could talk to a representative? 

Same with my Capital One card, it won't budge past 5,000. I'm guessing its a bucketed account at this point, so it's mostly a dead end.

If the Target card would give me an ounce of love, I'd keep it. But 300 dollars is barely serviceable IMO.

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While this idea will likely freak you out since you're so mindful of utilization, Target actually wants to see balances report before they grant CLIs.

I started at $300 as well and let a $275 purchase report a few months into having the card. Then I PIF and they doubled my CL to $600.

I later let $500 report and they increased me to $1300. I've been sitting there ever since, but I'm pretty sure it's because I haven't let a balance more than $100 report in ages.

[QuakerOatmeal]

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@Anonymous wrote:

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@QuakerOatmeal wrote:

Mostly it's due to my frustration with it being stuck at a 300 CL for over a year now.

Even though I PIF, if I wanted to make a decent sized purchase there, 300 dollars will not help me. 
For example, my sister graduated from school and wanted a futon, she liked one from target but the CL wouldn't cover it.
It's just very annoying that it hasn't grown at all, when my other cards have grown a ton.

I've updated my financial income every month religiously, and even let $1 cut with the statement. But no budging. Maybe if I could talk to a representative? 

Same with my Capital One card, it won't budge past 5,000. I'm guessing its a bucketed account at this point, so it's mostly a dead end.

If the Target card would give me an ounce of love, I'd keep it. But 300 dollars is barely serviceable IMO.

---

While this idea will likely freak you out since you're so mindful of utilization, Target actually wants to see balances report before they grant CLIs.

I started at $300 as well and let a $275 purchase report a few months into having the card. Then I PIF and they doubled my CL to $600.

I later let $500 report and they increased me to $1300. I've been sitting there ever since, but I'm pretty sure it's because I haven't let a balance more than $100 report in ages.

---

Blasphemy! xD

Okay, maybe I will try that. 

It's a shame though, because that flat 5% is pretty nice, its just such a pitiful CL!

[Anonymous]

If you’re not looking to carry the balance, just get the Target debit card and use that. Once I build some more of my lines to higher limits, I’m likely to close mine as well. I can get the 5% off with the red debit, or get rewards on a major credit or charge card.

[SoCalifornia]

IMO I would prune.  But, I'm on the side of the spectrum that sees more than 6 cards as work and 10 redundant. I'd prefer have a 5 or 6 cards that grow with me vs. a deck.  I would selectively pick them off 3 at a time every 2 or 3 months, meanwhile trying to build those I plan to keep (to help keep the cushion up, although you mentioned you keep the UTI low anyhow).

[SouthJamaica]

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@QuakerOatmeal wrote:

So I've been on a credit journey since 2014 to get all my credit ducks in a row.

In 2014, I applied for a job and they basically did a credit check and made me write out a letter stating how sorry I was for being an irresponsible teenager and how I would fix all my credit problems. Initially I was mad, but then I actually took it as an oppurtunity to look at my mess and begin to fix it.

Fast forward to maybe 2-3 years ago, when my credit started improving... I began applying for cards, and they began to approve me.

These are all the cards I have, not including charge cards from AMEX:

BOA Premium Rewards- 40k
Macys AMEX- 20k
AMEX EDP- 15k
Chase Disney- 12.7k
Citi Doublecash- 9.1k
Paypal Mastercard- 8k
Barclay Apple Rewards- 7K
Apple Card- 6.5k
AMEX HHonors Aspire- 6k
Capital One Quicksilver- 5k
Banana Republic- 4k
Amazon Syncbank- 4k
Discover 3.7k
Gamestop- 3k
Nordstrom- 2.5k
Marriot Bonvoy- 1k
Google Acct- 1k
Target Redcard- 300

I know, I know, I have a huge mess of cards. Please don't judge me. Most of them are kept at a zero balance, and almost all of them get used on rotation, then promptly paid in full, and *if* they carry a balance they are kept well below 30% utilization.

I'd like to prune some of these cards though, but I'm nervous that by closing some it would hurt my credit. The ones that come to mind for me (to close) would be the Target Redcard, Capital 1 Quicksilver, Barclay Card with Apple Rewards, and Marriot Bonvoy.

My Gamestop card is my oldest card (5 years old), if it wasn't my oldest I would consider closing it as well.
My Barclay card is my second oldest oldest card (2 years old).

Okay, so this was a very long post... But what would you recommend I do? I mostly just don't want to negatively effect my score!

---

I recently got the feeling that I should start winnowing out some of my more useless cards. So I closed 2 of them.

In reflection, I can't see what I gained by closing them.

What I lost was some utilization padding.

And the opportunity to use the cards in the future if the terms changed and they became more useful.

[Anonymous]

Not an expert but just my opinion, you could keep them all open but just cut up the cards and have/set up an alert sent to you if they are ever used, and use reporting services to constantly check balances, they should all stay open but some may close like gamestop or target after a prolonged period of non usage, just to keep on your credit report, but if you want to get rid of some permanently I would close any you don't use and focus on having just a few that offer the best rewards and give you high credit limits. no need for too much credit. Once I am finished with my debt payoff, I plan on just having 3 or so Credit Cards, it is a hassale having too many credit cards and can be a little nerve racking having so much credit available. No need really, but I want to say Good job for building your credit back up from a irresponsible teen and Best of luck!