08-02-2010 09:23 AM - edited 08-02-2010 09:28 AM
Today I bought my TU and EQ FICO scores. I was looking over the reports, and I see that both are reporting my Exxon/Mobil gas card (which has no VC/MC/AMEX affiliation, but issued thru Citi) as a 'credit card', and not as a 'charge account' (like my Macy's store card).
I currently have 8 credit accounts: one revolving charge (my Macy's), one open credit (AMEX), and six revolving credit cards (including, it appears, my Exxon/Mobil gas card). So my credit mix is fine.
I don't think I need this gas card, because the Exxon stations near me have just switched over to '76' stations, I can use a regular credit card for gas, and I'm getting no reward for using the gas card.
Also, this gas card is only two years old. My AAoA is over 8 yrs for both TU and EQ (and EX), so if it stays on my report as a closed account for the next ten years, it won't affect that. It only has a $2000 credit limit, which won't affect my UTIL at all if I close it.
Any reason not to close it?
08-02-2010 09:48 AM
In that case, if it doesn't have any fee attached, I would just leave it in the drawer and let the bank close it when they want. That way, the card might stay a bit longer on your reports.