I started rebuilding my credit about 3 years ago. i had gone through a divorce, multiple lates, collections, charge offs. I had a 498 credit score when I intially signed up on this MYFICO site. I am proud to say I am near 700 on all 3 CBs. I just recently opened a new $ 10,000 Amex card and got my Southwest cc limit bumped up to $ 7,000 and paid down my balance. So I expect this all to jump even more with better utilization % now once its all reported.
That said, here is a list of my current credit cards from my first secured card to my most recent Amex and when I opened them and their credit limit. My question is now that i have a full wallet of credit cards. Should I cancel or close some of the smaller ones that i would never use? And if I do not ever use these, will they cancel or close on their own or will they stay open forever even if i dont use them?
Capital One secured – 1/2013 – $ 750 limit / $ 0 balance
Capital One Quicksilver – 9/2014 – $ 1600 limit / $ 0 balance
Credit One – 5/2014 – $ 800 limit / $ 0 balance
Overstock – 7/2015 – $ 900 limit / $ 0 balance
Express – 5/2015 $ 900 limit / $ 0 balance
J Crew – 5/2015 $ 850 limit / $ 0 balance
Restoration Hardware – 12/2015 – $ 7,000 limit / $ 300 balance
Chase Southwest – 1/2016 $ 7,000 limit / $ 3000 balance
Care Credit – 4/2016 – $ 5,000 limit / $ 0 balance
American Express Blue – $ 10,000 limit / $ 0 balance
The only one I plan to actually use is the Southwest to gain miles (my monthly bills are all paid on this and i pay it each month). Then the Amex and Care Credit for emergencies are nice to have. Other than that, I dont plan to actually use any. I only got them at the time to help build my credit.