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#1 |
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Green Member
![]() Join Date: May 2009
Location: los angeles
Posts: 1
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So I am paying off all my cards soon. And I am considering closing a bunch of my cards, because I think I have too many. Here's a list of my cards from oldest to newest with APR's and limits
CARD / YEAR LIMIT / APR 1. BOA Visa Signature (2004) $6000 10.99% FIXED 2. Chevron Retail (2005) $1000 22% 3. Citi Bank Master Card (2005) $4700 %15.99 4. Gap Retail (2005) $1550 22% 5. Bloomingdales Retail (2007) $2500 22%(FOR SURE CLOSING) 6. Nordstrom Retail (2007) $6000 8%APR 7. Captial One Visa (2008) $4000 3.9%APR I am for sure keeping my BOA Visa Signature. I use my Nordstrom Retail all the time and I love the APR. And I love my Capital One Visa because of the APR as well. I am 23 years old. My FICO score is 700-710. And I really don't want too many cards anymore. I want to get it down to THREE CARDS. Any advice will help. I really want to close my Chevron, GAP, and Citibank cards because I don't really use them and the APR on those are really high. However all three were opened in 2005. So do you think closing those cards will affect my credit score? |
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#2 |
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Platinum Member
![]() Join Date: Apr 2009
Location: Texas
Posts: 93
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keep all the majors open. Pick the one that gives the most points/cashback and use it exclusively and pay it off every month. Use the other majors a couple times a year for small purchases just to keep them active. Closing accounts ends the credit history, and that can impact your score depending on the aging of your other accounts.
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#3 |
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Green Member
![]() Join Date: Mar 2009
Location: Miami, FL
Posts: 8
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I would close Gap, Bloomingdale card. They are also your highest in APR.
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#4 |
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Platinum Member
![]() Join Date: Apr 2008
Location: Georgia
Posts: 69
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3.9% APR from Capital One? Was that a promo rate or your standard APR?
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