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Close more credit cards?

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Ravensfan2001
Established Contributor

Close more credit cards?

Here are my current revolving accounts:

 

5/2012 - Capital One secured MC (closed 5/2013)

8/2012 - Fingerhut $950

10/2012 - SDFCU secured Visa $500

11/2012 - Target $500

11/2012 - Walmart $900

11/2012 - Amazon $1050

11/2012 - JC Penney $400

11/2012 - Old Navy 350

11/2012 - PayPal SC $600

11/2012 - NFL Visa $2000 ---- current balance $890. will be paid off next month.

11/2012 - ACFCU Visa $1000 ---- have $60 EFT monthly

 

How badly would it hurt my credit if I closed 2 more credit cards, Fingerhut and SDFCU? After paying the NFL Visa off next month, it's joining the other cards in the SD. My son is an AU on the NFL Visa, so it will be used for an occasional trip to the grocery store for me.


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Current Score (9/3/15): Wally TU 639 | Amex EX 628 | DCU EQ 639
Goals: Homeowner as of 9/27/2013. Last app 8/1/15. TU-5; EX-16; EQ-13. Aiming for ZERO inqs.
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2 REPLIES 2
jeffery581
Established Contributor

Re: Close more credit cards?

IMO

I would close fingerhut and leave everthing else open. GE cards grow with you.

Capital One Quicksilver Visa | Capital One Quicksilver Matercard | Sony Visa | ebay Mastercard | Best Buy Visa| Shell Mastercard | CareCredit | Amazon Rewards Visa | Discover it | Lowes | Home Depot | Chase Freedom | Ebates Visa | TJMAX Platinum MasterCard | Stash Signature Visa | Hilton Amex | Bank of America Cash Rewards Visa | Bank of America Better Balance Rewards Visa | US Bank Cash Rewards | Blue Cash AMEX | IHG Rewards Club World Mastercard | Barclay Cash Foward World Mastercard | Bank of America Travel Rewards Visa | US Bank Cash 365 AMEX | Amex Everyday | Target | CITI Double Cash | WELLS FARGO PROPEL AMEX | Royal Carribean Visa | AARP REWARDS VISA | BEst Western Mastercard
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codimom
Frequent Contributor

Re: Close more credit cards?

I agree that Fingerhut and SDFCU should be on the chopping block... but not quite yet.
I am going to assume there are no AF on these 2 cards... if this is the case I would wait until the end of this year to close them, simply to have a full year under your belt on these cards.   If there IS an AF and the companies won't waive it, then close them.

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13
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