To Close or Not To Close (Long

Looking at my credit profile as of 4/01 it shows the following:

Providian Gold 1500 Balance C/L 3700 4/99Date Opened
Providian MC 0 Balance C/L 1000
4/01 Date Opened
BankFirst 0 Balance C/L 700
7/97 Date Opened
First Premier 0 Balance C/L 350
11/99 Date Opened
FNCB (Spiegel) 0 Balance C/L 3200
11/99 Date Opened
Citibank PS 2300 Balance C/L 3500
2/01 Date Opened
Citibank DPS 2800 Balance C/L 4700
3/01 Date Opened

I used the two Citibanks as balance transfers to pay off Spiegelâ??s, Providian and BankFirst. (I had to use the Providian for some wedding related expenses this month but it was at 0 in 3/01.)

My cc debt ratio is at 38%. I have been debating on whether or not to close the BankFirst and First Premier. BankFirst is my oldest account with a perfect pay history. I never had a problem with First Premier and it too has a perfect pay history. I use my First Premier as my gas card and have been paying the balance off every month for a year and a half now.

Closing them now will effect my ratio making it 40%, but will it hurt me more by closing two of my oldest and perfect history trade lines? I have 1 x 30 on my Providian Gold from 7/99 canâ??t get it removed, perfect payment history on everybody else.

Should I keep them open for 12 more months, using them as cash (paying the balance off every month) while I wait for my Citibanks to mature? I just hate the low limits.

Right now the balances are balance transfers at 2.5% till December 2001 so the plan is to be debt free before my wedding in September 2001.

So.. should I close them or keep and use them responsible for one more year?

I have contacted BankFirst regarding the APR and C/L couldnâ??t get them to lower the APR but I got a $100 bucks out of them in Feb. I plan to try again in May. I havenâ??t done anything with First Premier my APR never went above 18.9% so I let sleeping dogs lye. Currently my Citibanks are both at 15.9%, Providian Gold at 16.9% and the Providian MC at 19.5%. (I havenâ??t even used the MC yet)


PS on the Providian MC, I called to have the APR lowered the day I activated it, stating that my Gold is at 16.9% why canâ??t my MC. The CSR said I havenâ??t even used it yet so it couldn't go to 16.9% how about 19.5%. I took it; he then informed me that if I use the MC responsible in about 6 months I could be eligible for their Platinum card. Not an upgrade from my Gold to Platinum but my MC to Platinum. I keep everybody posted on that one.