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09-30-2014 11:32 AM
Today i lost my mind, i Closed 5 Credit Cards, PayPal Extras MasterCard, Amazon Store Card, Macy's Store Card, JCPenney Store Card and Bloomingdale's Store Card, Was that a mistake???
09-30-2014 11:33 AM
09-30-2014 11:35 AM
Agreed. Nothing lost by closing those cards. Concentrate on the ones you still have, you will be fine.
09-30-2014 11:46 AM - edited 09-30-2014 11:47 AM
Not really. You seem to have way better cards in your sig anyway. I don't believe in having that many store cards and have only kept the ones that I actually have use for or have grown with me as my profile has improved. They're just utilization cushions this point to help keep me under 10% each month.
09-30-2014 12:07 PM
Depends on the limits of those cards and those you've kept open, which is entirely unclear. Your utilization may take quite a hit, depending.
09-30-2014 12:13 PM
If your utilization did not take a significant hit it doesn't matter.
Also, if you don't plan on buying anything utilizing credit for a while it doesn't matter
09-30-2014 12:17 PM
If the cards have tons of age on them and were your oldest cards, you could have spread it out but what's done is done. No real impact in the short term.
09-30-2014 03:22 PM
Thank you all, i feel better now
09-30-2014 04:50 PM
Nope, they are all ehhh cards anyway and if you don't have a need for them then its ok, it looks like you have plenty of other cards in the wallet. Those cards you closed will continue to report for up to 10 years
I'm sure he meant stay on your report for 10 years. But they will not report once closed. Will help AAOf A in time. But not util. It's outboard if you don't need them rouse them. I'm surprised you axed macys. As it grows fast.
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