I Currently own these card from oldest to newest:
Discover it card: $1k limit since June 2013
Amazon Store card: $700 limit since August 2013
Amex BCE: $1k limit since November 2013
Amazon Visa Card ( Chase): $500 limit since February 2014
Citi Thank you prefered card: $4000 limit since June 2014
Chase Freedom card: $3500 Limit since June 2014
The store card is the 2nd oldest on my account which i barely use since it is a store card and I prefer to use my Discover or Amex since i get Cash back with those. I really just want to cancel this card since I don't want to maintain it and since it is $700 only it won't hurt my Uti % much sinc without it i would have around $10,000 still. My question is how much will it hurt my rating ? 700 TU rating based off my Discover card on May 27th and 682 Equifax based off what it said when my Citi card said when i got approved this morning. IDK what my Experian score is and I know Chase has been pulling my Experian reports for apping.
The only thing it will hurt is utilization. It will remain on your credit report as a positive trade line for 10 years even if closed.
Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k