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Frequent Contributor
writemikep
Posts: 277
Registered: ‎10-21-2008

Any reason to keep my Exxon gas card???

[ Edited ]

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?

Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008

Re: Any reason to keep my Exxon gas card???

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.

Frequent Contributor
writemikep
Posts: 277
Registered: ‎10-21-2008

Re: Any reason to keep my Exxon gas card???

There's no AF, but I kinda hate leaving credit 'laying around' that doesn't seem to be useful.

Established Member
Xercien
Posts: 26
Registered: ‎07-31-2010

Re: Any reason to keep my Exxon gas card???

It being open helps your AAoA

- - - - - - - - - - - - - - - - - -
TU - 663 Fico (04/03/11)
EQ - 654 Fico (04/03/11)
Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008

Re: Any reason to keep my Exxon gas card???

Well, after everything you said, it seems not to be a big deal one way or the other. Just do what you want, there's no real "wrong" involved here.


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