Now what?

[Anonymous]

So as I stated previously the negatives in my account:
3 charge off---2 of which I re opened and 1 in the process of good willing (we will see how that goes)
Recently went on a crazy app spree (def shouldn't have but it's done) and was approved for cap one platinum, Walmart and target

Current cards:
Credit one 500
Open sky 200
Fnbo 300
Angel card 150
Express 150
Fingerhut 1k
Walmart 1k
Target 300
Cap one 300


So basically, I opened the open sky in July and even though I have only had it for awhile I pretty much do not like working with this card and want to close it.

I've paid the fee and all and am wondering should I just leave it open for the year and close it after that or will there be any negative effect to closing it now?

I would love my deposit back, but honestly it's not about that. I find the card hard to work with. Payments can take up to 10 days to process. I have a habit of overpaying just because Im scared of missing some random charge and they lockbox my payments for 10 days and honestly the online user interface is horrendous.

Probably not the most justifiable reasons to close the card nethertheless it is pretty annoying. Also it will not graduate.


So what do you guys recommend?

[Anonymous]

IMHO, you have too many 'toy' cards anyway. Close ones that have annual fees first - 3-5 cards is what you ought to have. Work with those cards to get CLI's and grow them.

[Anonymous]

I was thinking of closing open sky. Would it hurt to close this early after opening it?

Credit one is being good to me so I will keep that and I do want an ongoing relationship with fnbo

I have about 60 dollars left on fingerhut to pay off and am thinking I'll close that by June. So Atleast it will report for a year.

In the meantime, by the time I close fingerhut I want to be able to have enough clis to offset the avail credit drop I will get by closing them.

Does that sound good?

[Anonymous]

I think as long as you keep total UTI below 10% the total amount of credit won't make any signifigant difference - CLI's over the next 6-12 months while gardening should more than make up for the closed accounts. There *might* be a temporary score drop, but in the long run you will look better off, IMO.  I don't see how closing the most recent accounts would hurt anything, if anything it will make AAoA longer. Just watch the UTI.