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Author: Belgoboy Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308685  
Subject: Hoping to get some more feedback Date: 6/23/2002 3:02 AM
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Hi there

I posted this about 10 days ago and didn't quite get the response I was hoping for. In order to make a smart(er) decision I was hoping some of you could give me so feedback. Thanks.
I'm fairly young, 22, and doubt that many my age pass their time reading about stories from parents,singles,etc in their 30s,40s,50s,etc. but I do :-).

I currently have 4 credit cards, too many I know I know. I'd like to give out the facts and here what you have to say. Before doing that though, this post is mainly because I'm considering opening another card to hopefully close down another. I'm basically aiming at carrying two cards with the largest possible credit limits in case of an emergency and hopefully keep my rates down. I've been paying my bills off consistently for the last 3 years, and have over the time thanks to this board, cancelled 2 cards (I've never had more then 4 at any time, not that that's great). I received an offer from Fleet, a company I don't know much about other then that they sponsor the Fleet Center in Boston.
The offer reads as follows: 0% intro APR on purchases untilMarch 2003 with a 8.99% balance transfer rate (not amazing but you'll see what my rates are for my cards. The minimun transfer is $100). Credit limit up to 50k. (not keeping my hopes or desires on that, but personally I'm fine with 5k by far). Offer expires July 31st, 2002.
So, after receiving this today I decided to call up Discover in order to see if I could get a reduced rate (it worked before). They didn't offer me that but offered to transfer balances for 9.9%, which wasn't great for me since all my cards are basically at that rate, and Discover is actually the card with the highest rate. So the rep was a bit shocked and offered 7.9% till Sept. (I guess I got excited for nothing), which I took. On that I transfered the remainder of my Nextcard balance to the card. I realized that though I wanted to cut my Nextcard its probably best to just keep it at $0 since it's my oldest card and could affect my credit report.

My cards:

Discover $1566.68/2000 (includes the recent balance transfer from Nextcard to Discover).
Citibank $1770.60/4000 @ 9.9% till Sept. and then 14.9% (I believe).
Nextcard: $526.06/1500 @9.9. Transfered to Discover @ 7.9% --> now $0/1500
USAA $501.43/1500 @ 10% (might transfer all to new Fleet card).

Should I forget about the Fleet card as an opportunity to continue downsizing or are there better options out there. Thanks.
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