kscutieboy

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?

jeffysdad

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.

trd01

I would close Gap, Bloomingdale card. They are also your highest in APR.

bikermike

3.9% APR from Capital One? Was that a promo rate or your standard APR?