- Posts: 1
- Joined: Thu Oct 04, 2012 4:03 pm
- Location: Pittsburgh
hey everybody, first post here. I've been lurking in a sense getting a vibe and reading reviews on cards and what everybody is doing with their credit.
So to make a long story short, I have been rebuilding my credit since I lost my job four years ago and when that happened I put everything on my BP Chase card since it had the biggest limit and needed to pay for car insurance, car payment, rolled three credit cards into it and over the course of three months I went from a $300 balance to a $4,998 balance with a $5000 limit. A year after I got a new job making 40% less, i started using my other cards again. Thus destroying my credit from a 805 to a 608. I in the past year rebuilt my score to a 675 and paid down $9,800 in CC debt to just $5,003 (as of today)
So my question is how do I go about canceling my high interest cards that have low balances, such as the Capital One cards that I swear everybody has in the wallet.
I am looking to apply for the AMEX Green in the spring once I pay down some balances and also looking at some other CC that I could have high limits to balance out closing my older accounts, and I know that closing old accounts is a piece of your overall score so I would want to close out after opening the new accounts?
Some help would be awesome!
I would like to get Cap One out of my wallet all together but my Cap One Visa is my oldest account...
Current Card Line up (Limits)
Cap one Visa $750 Limit
Cap One Master $750 Limit
Chase BP $5,000
Guitar Center $5,000
Firestone card $1,000