Need advice on what to do...

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3 posts
oolongtea
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Joined: Thu Aug 07, 2014 12:27 pm
Location: San Diego, CA

Need advice on what to do...

Postby oolongtea » Thu Aug 07, 2014 12:36 pm

I am 24 years old, and I have made some horrific decisions about credit cards ever since I turned 18 and obtained my first card. It took me these years to where I am now to realize how foolish I was with my spending habits. I am now in, what I believe, pretty deep debt (9k in credit cards). I have set up my own plan to pay EVERYTHING off in the next 1-2 years, however I need help to decide on which cards I should keep open, and which to close. Please do not judge me on this, but I will list the cards I have open, and I would love some feedback on what you think would be wise to keep open, and which ones to close.

Amex gold preferred rewards
Amex Blue Cash (1.5k)
Discover (2.5k)
Chase Freedom (1.2k) - This is my oldest credit card
Chase Slate (500)
Barclays [Apple Store] (1.4k)
Best Buy (2.5k)
Bloomingdales (900)

Reading through the exisisting forums, I am thinking of keeping these, and wanted to hear your thoughts.

Keep: Amex gold, amex clear, discover, chase freedom.
Reason: Have amex, discover, and a chase freedom for places that don't accept the prior.

Close: Everything else.

I really appreciate any advice I may receive, thank you for taking the time to read! :)


Red_Rena
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Location: United States

Postby Red_Rena » Fri Aug 08, 2014 3:43 pm

I would move the limit from the Slate to the Freedom. Your keep list sounds solid, but I would consider keeping the Barclay's, too. My 2 pennies :-D
EQ 861
EX 08 869
TU 08 822

American Express Blue Cash Everyday $16,000 (6/2014)
Bank of America Better Balance Rewards $3800 (7/2003)
Bank of America Cash Rewards Visa Signature $6000 (3/2012)
Barclaycard Rewards $8200 (2005)
Capital One Quicksilver $4750 (12/2010)
Capital One Quicksilver $4000 (3/2011)
Chase Freedom $2000 (9/2003)
Citi Dividend $5700 (6/2013)
First National Bank of Omaha Visa Platinum $9000 (2011)
Bill Me Later (PayPal Credit) $1960 (2011)

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djrez4
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Location: United States

Postby djrez4 » Fri Aug 08, 2014 3:51 pm

Red_Rena wrote:I would move the limit from the Slate to the Freedom. Your keep list sounds solid, but I would consider keeping the Barclay's, too. My 2 pennies :-D


I agree, but with the addition that you should ask to convert the Apple card into something more useful, if you can.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]



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