2 year tradelines?

Discussion in 'Credit Talk' started by Momof3, Oct 23, 2000.

  1. Momof3

    Momof3 Well-Known Member

    As you know I am trying to close some accounts, I plan on paying off my Associates next month, low limit, High apr etc, but this was one of my very first cards and by June 2001 it will be 2 years old. I know many have said to keep your tradelines open for 2 years. Should i just pay off and keep the card til next year?

  2. roni

    roni Well-Known Member

    yes, keep it for two years and close it later. Get the balance lowered to up your score.
  3. Momof3

    Momof3 Well-Known Member

    Thanks once again Roni, I did close a few accounts but the weren't quite a year old, but believe I still have plenty left, too many:) I had to close some, but keeping my 3 oldest cards will hopefully do the trick:)
  4. roni

    roni Well-Known Member

    I bet you dont have as many as me. I was the subprime queen. LOL.
  5. Momof3

    Momof3 Well-Known Member

    I don't know shall we compare LOL
  6. roni

    roni Well-Known Member

    Ok mom,
    Tell you what.I will tell you again, and you can give me some advise. Here goes. oldest to newest. These are all my revolving accounts:

    Discover charged off 9/94 settled 2/95
    FNBM 4/99 closed 4/00
    Capital one 11/99 $400 limit
    First Premier 3/00 $350 limit
    Orchard 4/00 $300 limit
    FCNB 4/00 $450 limit
    Providian 5/00 $1,550 limit
    AMEX optima secured 5/00 $200 limit
    Speigel 7/00 $400 limit
    Chase Bank 9/00 $2,000 limit
    Capital one 8/00 $200 limit
    Capital one 8/00 $2,000 limit
    Citibank 9/00 $9K
    Citibank 9/00 $9K

    1)Does a line of credit like my MBNA ethan allen account count as revolving. It is for $5,500 credit line and balance is $3,500. opened 9/00.

    2)I just sent in money to pay off FCNB and First Premier. I was thinking of closing these first. Next on my list is to combine the capital one accounts if I can. I dont want to lose the 11/99 history. What you think?????
  7. Eboni

    Eboni Guest

    Keep the Speigel

    I can say keep the Speigel. I started off with them 5/99 with a $250 limit. Now my limit is 5550 as of 10/00. They will give you huge increases. I have been getting $1000 about every other month. I think I may have tapped out though.

    I got them to increase my limit by following Barry N. advice. I carried a balance and broke it up over 2 months and paid it off. I also used the 3 months no payments no interest to pay off the amount before it was due.

    I am a customer for life. They gave me an account when my credit was questionable at best and then the increased my limit. They also treat me like a valued customer.

    I know lots of their stuff is over priced, but they also carry items no1 else has. I order from them with caution. For example Playstation2 in Speigel 399, from ToysRUs 299.

    Just my opinion

  8. Momof3

    Momof3 Well-Known Member

    RE: Keep the Speigel

    Wow you have done great, I already closed it, I never used it and really never was fond of their prices. But it works for you, so I am glad you had success
  9. Momof3

    Momof3 Well-Known Member

    Yes I would close the FCNB and the First Premeir, these are farily recent and you have others that you have opened this year, so it is like your building your credit, and doing a fine job may i add, have you thought about closing Orchard. I mean compared to your other lines it looks like peanuts:) Now if you can combine Capital ones accounts, would it be still be considered originally opened in 11/99, which seems to be your oldest account?
  10. Momof3

    Momof3 Well-Known Member

    RE: 2 year tradelines? P.S

    I believe you have me beat in accounts LOL

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