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New Visitor
snnw
Posts: 1
Registered: ‎09-30-2008
0

Close store credit cards?

I recently applied for a gas card to cover gas expense for a cross-country road trip.  When I asked them to increase my limit from $300 to $500, they refused and said it was because I already had too many credit cards.
 
I am surprised because I only have one major credit card and an additional three store cards.  One of the store cards is used regularly, the others are ones I opened when in college thinking I was getting a great deal with the 20% off my purchase at the time (lesson learned).  I haven't used these two cards since paying off the original purchase and they have stood at a $0 balance and no activity since then.  I am also very good at paying off my other cards when their monthly statements come in.
 
Would it help or hurt my credit score to close these store accounts?  Should I take notice of this gas card situation or just brush it off on account of the current economic situation? 
 
I haven't received a statement for these cards since there is no activity on them, and I have since cut up the cards.  How would I go about closing them?
Epic Contributor
Creditaddict
Posts: 22,132
Registered: ‎10-23-2007
0

Re: Close store credit cards?

I would keep your store cards unless your really never ever going to use them again.
maybe your gas card bank is the same as your store cards and they don't want to extend anymore credit.
Fico Scores: EQ- 656 Cap1., TU 696 Walmart, EX 700 Chase (12-17-14)
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Regular Contributor
siangirl34
Posts: 242
Registered: ‎07-26-2008
0

Re: Close store credit cards?

How long did you have the gas card for before asking for the CLI? I guess depending on who it is, they may possibly be more likely to give a CLI after you have had the card for a period of time.
Valued Contributor
mjbfan79
Posts: 1,998
Registered: ‎03-31-2008
0

Re: Close store credit cards?

Is the card is new most likely there not gonna grant a CLI what gas card do you have.

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Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007
0

Re: Close store credit cards?

In most cases, you need to have the card at least 6 to 9 months before a CLI is a realistic possibility.

And no, don't cancel the card. Just charge something small on it every three months or so, let it report, and pay it off.
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