My number one reason code for Equifax and TU is too many bankcards. I do have a bunch. My top 2 reasons for Experian are the average age of accounts and number of inquiries. I am thinking about closing my Discover account. I have had the account for a year and a half. My limit is 14,500. I am not real worried about my ratios, because a large chunk of my debt will now reside on my new Amex LOC which supposedly does not report. The purchase APR on my Discover card is through the roof. They did give me 4 months of purchases at 9.9, but the permanent rate is 18.99. I really only had the account for the fee-free balance transfers, but they have recently decided to start charging fees. If I keep the account, I will never be using it. I have many better accounts. I guess I am posting this incase someone has any reasons why I shouldn't close the account.
would it be mor advisable to confirm that amex doesn't report before you close out discover? what if amex does report? your ratio would be off.
if Amex does report, I will have an additional 100k of lines reporting (yes, I applied for another one - I couldn't help it) I have received my first statement, and it hasn't reported yet. Also, when I called and asked, I was a little confused, but from what I understood, it would only report if it was delinquent. I also have the Generations card that does not report with a limit of 25k @ 9.9%
I'M KEEPING MY DISCOVERCARD (I'M NOT USING IT AT ALL) TO HELP MY RATIOS... They would rather lose their cut of $900.00/week, than increase the credit line just $5,500.00 with-out a credit report.
(CLICK ON INDIVIDUAL LINE OF CREDIT) https://www51.americanexpress.com/servlet/Apply?request_type=indexSubmit DIRECT SHOT...MAY OR MAY NOT WORK AT TIMES... https://www51.americanexpress.com/servlet/Apply?request_type=legalSubmit AMEX IS IN THE BLAST ZONE, SO MAY OR MAY NOT BE AVAILABLE FROM TIME TO TIME. THEY HAVE OTHER OFFICES AVAILABLE, AND SHOULD BE UP SOON IF NOT AVAILABLE... NO CARD "SOFT" EXPERIAN UNKNOWN AT THIS TIME IF IT REPORTS TO CRA'S $25,000
