Originally Posted by
whoisthebest
I have 5 credit cards and the Gold charge card. I am hoping to close the Gold card but don't have another MR card to store my MR. Now I am considering getting ED or EDP. Should I apply first, cancel first, or something else?
Easy answer....I also had 5 credit cards, and was hoping I would be one of the lucky ones that would be allowed to have 6, so I applied for a new credit card. However, the app went to pending, and was later denied. However, after I called in and closed one of my cards, the new app was immediately approved. You don't have anything to lose by applying for your 6th credit card.
However, DO NOT do anything to your GOLD charge card until you definitely have an open ED or EDP. Keeping your Gold charge card will have no impact on your credit cards, and closing it before the ED or EDP is approved could be a disaster. Good Luck.