Regular Contributor
Posts: 152
Registered: ‎02-01-2013

Cancel cards after only 3 Mo?

All my cards are under 3 Mo. 


Before I knew my credit was good enough for prime in Jan, I opened:

Merrick (700)

Cap 1 (1000) $39 AF

Buckle Store Card (500)


Then I got brave, and realized things were better than expected and scored:

Discover (5000)


Then this past month went for:

Chase (4000)

AMEX (1000)

US Bank (Still Unknown, But Approved)


I'm sure Merrick is going to hit me with one of their warning leters that they'll cancel me for having too many new credit lines. 

I'd also like to drop the Cap 1 with the annual fee. 


My AAOA sucks, 3 months on my oldest accounts. 

( AMEX may backdate me to 2006, I haven't called yet )


So... would it be better to drop the Merrick if they ping me? and the Cap 1 at the sme time, or should I try to let them age a bit first?

I know the Cap 1 will go bye bye because of the fee in December, and from what I hear, they probably won't PC to a no-fee in a year. 

Merrick, I like the free FICO score, and they don't charge a fee, but read here, and other places of them either threatning, or actucally cancelling because of opening too many new credit lines. I'd rather do the canceling, then be cancelled. 


All my credit is fairly new, and I'm gardening, and plan to garden for quite some time.


Opinions? I'm kind of lost on which route to take... 

Cancel both now. 

Cancel both if Merrick complains. 

Try to wait it out until December, then cancel?


I wish I understood more before I opened those two, If I knew then what I know now. This board has been a wealth of great info. 






MyFico Scores 8/2013: EX:702 EQ:724 TU:730 -- 2009: I had BAD credit. -- PIF Weekly!
Valued Contributor
Posts: 1,339
Registered: ‎09-11-2012

Re: Cancel cards after only 3 Mo?

I would keep them open. I would charge something small and PIF every 6 months or so.


After a year, you can cancel the one that you don't like. That's just me.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011

Re: Cancel cards after only 3 Mo?

armbenderc wrote:

I would keep them open. I would charge something small and PIF every 6 months or so.


After a year, you can cancel the one that you don't like. That's just me.

I agree.


Cancel at the yearmark to avoid any AF.

Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.