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Closed Orchard hope it was right thing to do.

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medic13
Established Member

Closed Orchard hope it was right thing to do.

Hope I did the right thing by closing my Orchard but couldnt take the $7 a month annual fee.  They wouldnt waive it so after 5 yrs sent it to pasture.  

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3 REPLIES 3
jamesdwi
Valued Contributor

Re: Closed Orchard hope it was right thing to do.

THe orchard card will contine to report and have a positive effect on your AAoA for the next 10 years, AAoA is not effected by closing a credit card. The only effect is your UTL could go up but you have it covered, checkout  Closing Credit cards  

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 2 of 4
Dishpro
Regular Contributor

Re: Closed Orchard hope it was right thing to do.

Read the thread under this topic called closing credit cards.
 

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medic13
Established Member

Re: Closed Orchard hope it was right thing to do.

Thanks for some reason I thought it would also have an effect on the AAOA and thus was a bit worried.  Still paying an annual fee on the household account but its good for another seven months so will keep it open til then.  Hopefully one of the other cards will have grown another $400 by then to cover it.

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