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Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012
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CLose or wait?

I am wondering what is better to do close a card or wait for them to close it for inactivity? 


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
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Valued Contributor
Epcot
Posts: 2,784
Registered: ‎10-10-2012
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Re: CLose or wait?

Is there an AF? Any reason why you don't care to keep it open?

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Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012
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Re: CLose or wait?

two of them have an AF. another one will never move from current CL. 


In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
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Revelate
Posts: 8,871
Registered: ‎12-30-2011
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Re: CLose or wait?

FWIW I'd never let a card close due to inactivity; while FICO might not care, I don't want odd questions during an underwriting phase asking about a card which was "closed by credit grantor."  

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Regular Contributor
alboto
Posts: 211
Registered: ‎08-23-2012
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Re: CLose or wait?


Revelate wrote:

FWIW I'd never let a card close due to inactivity; while FICO might not care, I don't want odd questions during an underwriting phase asking about a card which was "closed by credit grantor."  


this is definitely a good reason not to let them close it due to inactivity, even more if they have an AF.

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: CLose or wait?


Revelate wrote:

FWIW I'd never let a card close due to inactivity; while FICO might not care, I don't want odd questions during an underwriting phase asking about a card which was "closed by credit grantor."  


I agree.

 

Appbar, if this is the cap1 account your asking about keep it. I know the AF thing isn't nice but try out the executive office line and see if they can increase you to make it worth it.

 




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Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012
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Re: CLose or wait?

If they cant waive it close it?

In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
Established Member
Cesarlopez
Posts: 34
Registered: ‎05-11-2011
0

Re: CLose or wait?

I look at credit all the time... Scores are nice, but really don't tell the whole picture. Someone that has had late payments and closed accounts that say Closed by Grantor and then you look at High credit, Credit limit which may now be lower because they balance chased you, just looks bad.

 

I pay for USAA credit monitoring and score watch... Because I care about my Credit/Score. Honestly an annual fee is the least of my concerns. Paying my bills on-time and watching my utility and managing spending on 15 different cards is.

 

I strongly believe that if you are not going to use a card. Sock Drawer it and still log in and check the balance every two weeks and use it once every two months or just close it.

 

 

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Valued Contributor
afbar1114
Posts: 2,177
Registered: ‎01-09-2012
0

Re: CLose or wait?

So it seems like i should close it. Havent used it in five or so months anyways. I will never use it again. I hope it doesnt hurt with discover

In my wallet: AMEX Gold; Freedom $1.5k; CSP $5k; Chase United $5k; Discover $2k
Last HP: 4/30
Frequent Contributor
scientifics
Posts: 411
Registered: ‎05-01-2010
0

Re: CLose or wait?

Some interesting discussions in this thread! In the past I've always heard here that you should just let it go on it's own if there is no AF?


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