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Can I cancel my sleep expert credit card without hurting my score?

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gkinter
New Contributor

Can I cancel my sleep expert credit card without hurting my score?

Hey there,

 

I have two credit cards that I never use. 

One is from Syncrony and I can only use it at Sleep Experts.

The other is a Capital One with a 500 dollar limit. Could I cancel them so I can apply for better cards? My score is in the mid 700's currently. 

 

Thanks, 

2 REPLIES 2
Anonymous
Not applicable

Re: Can I cancel my sleep expert credit card without hurting my score?

You dont have to cancel a card to get a better one. Having current lines of credit can help you get new credit if the old ones are in good standing.

That said, if you don't forsee using it ever again there's no point to keeping a card for a specific store except to boost utilization.

Also rather than close the cap1 card you could try for a cli or see if you can pc to a more useful card. Unless it's their secured card either should be possible.
Message 2 of 3
Appleman
Valued Contributor

Re: Can I cancel my sleep expert credit card without hurting my score?

I agree no need to cancel the cards at this point. 

You should take a look at some of the pre-qualification sites. There are sites that will see if you qualify for a card with only a Soft Pull. Cap1 and AMEX are 2 that come to mind. You will get a HP if you accept the offer or apply fully.

Good luck

Message 3 of 3
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