App Spree Aftermath - Questions

[Hooosier]

In the past six months my scores have gone from the 630s to the 730s and my income has greatly increased as well, so I decided to go on a bit of an app spree yesterday to improve my total credit availability.  My new cards are:  USAA World MC (15K CL), AmEx BCE (10K CL), Discover It (7.8K), and Chase Freedom (7K).  Now my question is should I consider closing some of my old credit cards with very low credit limits (<1K) if I have only had them for 1-2 years tops.  For example, it just seems pointless to have an Orchard Bank Card with a $300 limit as I have only had it for 11 months so its really not improving my AAoA.  Or should I just keep them open and throw them in the sock drawer since they have no AF?

PS - I don't post here often, but I read the threads here constantly and the knowledge I've gained here has been invaluable - Thank You All!

[tinuviel]

First of all, congratulations on the progress that you have made with your credit and on the wonderful approvals!

While keeping an account open will add to your AAoA, even closed it will continue to do so for the next 10 years. You have 5 new accounts that have been added into the mix and will be aging as well, so 10 years from now the Orchard account dropping off shouldn't make much difference. And even if you have more than one rebuilder card, you still have the new ones that will be gaining age. IMO, the Orchard and other rebuilder cards have done their job and I would be inclined to let them go.

[KIPPIE12]

+1

[JonStur]

It's really up to you. I would say definitely if there was an annual fee...

[RhubarbPie]

Generally speaking, I don't think there is ever a reason to close an old card that has no AF, even if the limit is low (unless you are scared that you can't control your spending or something like that). It will only serve you in the long run to just keep it open.