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powers64

Chases 5/25 rule & unsecuring DCU or US bank cards

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3 years ago, I applied for 2 secured cards and a Cabelas which has a low limit. My scores are now in the 700's and I am getting great cards with high limits, so I am not sure what to do with my older cards. I need to keep them for age. Should i leave them be or try to get higher limits or try to get them unsecured so i can get my deposits back?

 

Of note: i would like to apply for a couple additional Chase cards in the next year or two and don't want to do anything that will contribute to my 5/24

 

Here are the cards and dates:

  • US Bank Secured: $500 opened 1/15. my understanding is they will generally unsecure, release the funds and i keep the same account. does that mean there will be no impact on my age or 5/24?
  • DCU Secured: $5,000 opened 2/15. My understanding is that they do not unsecure. I would just have to apply for a new card. I want to keep this open for the age, but likely won't use it much. Does it hurt to take out 4,000 and just leave it with $1K limit?
  • Cabelas: $750. Now owned by CapOne. I am inclined to just sock drawer this one. If i ask for a higher limit does that hurt my 5/24? It is only new accounts that hurt, right?
  • Citi American Airlines: $8,400 
  • Chase Sapphire Preferred $12,500

 

Thanks for any suggestions!
 

Powers

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The card that graduates should not result in a new account.  No impact to 5/24.

 

The only thing to watch on a card with a $1,000 limit is how much of a balance you allow to report.  Unlikely that you'd run much through the DCU card when you have better cards.

 

CLIs don't result in new accounts.  No impact to 5/24.

 

Congrats on your hard work.  Feels good to have options!  :good: 

 

 

Edited by cv91915

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Thanks for the reply!

 

Quote

Congrats on your hard work.  Feels good to have options!  :good:

Thank you! It is pretty exciting for me! It took a long time to get here. 

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