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Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: An Opinion whether to close or remain open will be appreciated

Late to the game here, but one thing to do is project where your credit (and you) will be in ten years. What will your AAoA be in 10 years with and then without the card? And will you still be using credit at that point? And remember that EQ will probably lose the account before the full 10 year period.

These days I'm starting to feel that in ten years, I'll be using credit to bribe the nursing home attendant to sneak me out in my wheelchair to a concert or something, so I'm trying to keep this in mind when evaluating the future of old but annoying cards.

One possibility: maybe there's a charity or something out there in which you would be interested that would let you set up quarterly payments from a CC. If not quarterly (and we know how twitchy HSBC can be), a small monthly donation or something.

Up to you as to whether keeping a history card alive is worth any damage from grinding your teeth.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
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Re: An Opinion whether to close or remain open will be appreciated


plasticguy wrote:
Thanks for the input. I forgot to mention the card has no annual fee. I also forgot to mention that I have a GM Card issued by HSBC that was Dropped from 16K to 3 k and it's APR is still at 6.74%! opened in 2000

Due to the overwhelming response, I will keep it opened, however, I wouldn't tuck it away for more than 3 months......

Don't let it lay fallow for more than 90 days. Not one day more. HSBC is very twitchy!

Established Contributor
Posts: 564
Registered: ‎02-21-2008
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Re: An Opinion whether to close or remain open will be appreciated


creditwherecreditisdue wrote:

plasticguy wrote:
Thanks for the input. I forgot to mention the card has no annual fee. I also forgot to mention that I have a GM Card issued by HSBC that was Dropped from 16K to 3 k and it's APR is still at 6.74%! opened in 2000

Due to the overwhelming response, I will keep it opened, however, I wouldn't tuck it away for more than 3 months......

Don't let it lay fallow for more than 90 days. Not one day more. HSBC is very twitchy!





I totally agree, once a month should keep them at bay
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