Should I cancel my Orchard Bank credit card?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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alb3rt018
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Should I cancel my Orchard Bank credit card?

Postby alb3rt018 » Sat Sep 22, 2012 8:15 am

  • Oldest Account - Length of time since the oldest account on your credit report has been opened: 1 Years, 4 Months
  • Average Age of Accounts - Average age of all the accounts on your credit report: 8 Months
Capital 1:Cash Reward. 07/01/12. Credit Limit: 1k
Amex:Gold Card. 02/01/12
Capital 1:Aka Orchard Bank. 12/01/11. Credit Limit: 300
Capital 1:MTV Visa. 05/01/11. Credit Limit: 500.

Should I cancel my Orchard credit card?
Amex Gold:
Amex Jetblue 6k
Chase Sapphire Preferred 5k
Discover 3k
Capital One Venture 3k
Capital One Quiksilver 2k
Capital One MTV 500


DavidNY
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Postby DavidNY » Sat Sep 22, 2012 9:43 am

If they charge fees of any sort I'd get rid of it.

alb3rt018
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Postby alb3rt018 » Sat Sep 22, 2012 11:05 pm

yea $59 it wont hurt my credit to close down my account?
Amex Gold:

Amex Jetblue 6k

Chase Sapphire Preferred 5k

Discover 3k

Capital One Venture 3k

Capital One Quiksilver 2k

Capital One MTV 500

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Socelli
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Postby Socelli » Thu Oct 04, 2012 1:29 am

Oh yeah, for sure close it. The $300 limit won't hurt your FICO score or your credit. Just make sure you keep your balances low on the other cards until your credit limits are increased on them. And in a short time, with a good credit history, they WILL be increased. Good luck!
Cards:
American Express: Business Platinum-NPSL, Delta SkyMiles Gold-$2K
Chase: Sapphire Preferred-$5K, Southwest Airlines Visa-$3.7K, Freedom-$400
USAA: Platinum MC-$4K, Advantage Rate MC-$4K, Amex-$4K
FBNO: BucksBack Visa-$1K, Amex-$1.7K
GECRB: Walmart Discover-$3,7K
Barclays: Financing Visa-$3.2K, Juniper MC-$1.1K
Capital One: Platinum MC-$1.5K, Platinum MC-$750
CFNA: Firestone-$1.6K
CitiBank: Office Depot Business Card-$1K

Money card
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Postby Money card » Thu Oct 04, 2012 10:38 pm

I have to agree capital1 cashback card gold American Express, obviously your not starting out. so you have a few credit cards
with a couple years of usage. but it's not like you have no credit, it's not like you wanting to apply for your first card!
I would say it would be a good idea to get rid of your Orchard credit card.

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t528491
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Postby t528491 » Sun Oct 07, 2012 10:13 am

I closed out my CapOne secured (which only had a $29 fee) so I think you definitely should.
[size=80]
02/12 Authorized user on Chase Freedom ($5000)
08/12 Discover It ($1500)
08/12 American Express Zync (NPSL)
12/12 NFL Visa ($500)[/size]

[size=60]Future cards:
Citi Forward for Students 6/13
American Express Blue Cash Everyday 1/14
Sallie Mae World Mastercard 2014
Chase Freedom 2014
Penfed Platinum Rewards Card 2015[/size]

alb3rt018
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Postby alb3rt018 » Tue Oct 23, 2012 11:10 pm

i request a cl increase I told them my gross 18k they only increase $100 from 300 to 400 no thx i cancel right away
Amex Gold:

Amex Jetblue 6k

Chase Sapphire Preferred 5k

Discover 3k

Capital One Venture 3k

Capital One Quiksilver 2k

Capital One MTV 500



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