My plan

Discussion in 'Credit Talk' started by Momof3, Sep 18, 2000.

  1. Momof3

    Momof3 Well-Known Member

    Thanks for all your advice about my credit. I think I am going to keep my ARIA 5K, keep my citibank at 1K, pay off and close my associates and fidelity and just keep my aria and citibank as primary major credit cards.

    I plan on keeping My sears, at hubby's request and keeping my Jcpenneys. I am closing my spegiels, easy I dont' owe anything on this one, closing my target and lowes and exxon.

    of course I will do these gradually and hopefully boost my score.

    Does this sound like a good plan??

  2. miles

    miles Well-Known Member

    Sounds like an excellent plan. Good luck!
  3. Momof3

    Momof3 Well-Known Member

    Thanks Miles:)
  4. RichGuy

    RichGuy Guest

    It sounds good to me. I think it focuses on your strengths and minimizes any problems.
  5. Doris K.

    Doris K. Well-Known Member

    The best part is that you have a plan, and that you're keeping your goals in mind. When we fail to plan, we plan to fail. :)
  6. Momof3

    Momof3 Well-Known Member

    Thanks, hope it works:)
  7. Momof3

    Momof3 Well-Known Member

    Very true Doris, I just have to stick to it!!
  8. Michael

    Michael Guest

    Your plan is excelent, I would only say that perhaps you should keep the Gas card, as creditors like to see some variety in your credit mix.

    It probably won't affect you keeping it, and Possibly might be deemed slightly negitive if all you have are major cards and 2 store cards.

    At least leave it to the end and then decide what you want to do. I also would recomend you close the accounts with about 60-70 days of space between them!
  9. Momof3

    Momof3 Well-Known Member

    Thanks for the tips:)
  10. dogman

    dogman Well-Known Member

    Mom- you've got me thinking about closing out several of my accts - several I haven't used in yrs:
    Radio Shack
    BP Oil

    Just make sure your include the comments
    "Account closed by consumer request"
  11. Momof3

    Momof3 Well-Known Member

    Yes I will do that Dogman:)
  12. Reshod

    Reshod Well-Known Member

    Why is it important to state " account closed at consumers request"?
    Does this change the way credit-grantors view your report?
    If so, then how do i go about getting closed accounts to reflect this change?

  13. Momof3

    Momof3 Well-Known Member

    accounts closed by consumer looks fine, but if it states account closed by creditor that can look negative, it may appear the bank closed your account for non payment, lateness etc.
  14. RichGuy

    RichGuy Guest

    Michael is right. The Exxon card could be one of the last to go, especially if you actually use it. And about those other cards, you should pay off your highest interest cards first, which means Fidelity would be last to go. Regardless of whether they give you a limit increase, you could take advantage of the decent interest rate before you cancel the card.

Share This Page