Just paid off 5 maxed out cards - what now?

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Joined: Thu Jan 02, 2014 4:05 pm
Location: San Francisco, CA

Just paid off 5 maxed out cards - what now?

Postby thrak » Thu Jan 02, 2014 4:22 pm

I now have more credit than I can effectively utilize, even at 20% total per month.

Here are the cards, limits, and when I opened them:

Wells Fargo Credit Card - $2200 limit - Since Apr '07.
Chase Freedom - $2900 limit - Since Nov '07.
Capital One Quicksilver - $750 limit - Since Feb '09.
GE Chevron (non-Visa) - $800 limit - Since Jan '12.
Citi Forward Visa - $3000 limit - Since Dec '12.

I feel like I should close the 3 newest, and keep the two oldest (Chase and Fargo) and only spend a few hundred a month on them. Good/bad idea?

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