- Centurion Member
- Posts: 4047
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
jcerillo70 wrote:Hi guys,
So i have 4 credit cards & a fingerhut account now. I, trying to rebuild my credit.
1.BankAmericard Platinum Plus Visa - (Secured) $300 limit
2. Capital One Platinum - $500 Limit
3.Discover it - $200 Limit
4. Nordstrom store card - $300 limit
5.Fingerhut account- $500 account limit
I have been thinking about narrowing down to 2 or 3 cards - Does it make sense for me to pay one or two off and close until im back in the 700's score.
Amy insight is greatly appreciated.
I wouldn't close anything immediately. When you're rebuilding, you need as much good information to report as you can, to weigh against the bad marks.
Maybe close the BofA secured card before the next annual fee is due. When would that be?
If Fingerhut or Nordstrom's go inactive from disuse, so be it. I'd still try to squeeze as much account history as you can from them, though, and let the banks close the store cards before you do.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech