Hi all,
I am looking to close about 4 maybe 5 cards that I got via SCT that have a 0 balance and I simply dont want anymore. They are roughly 2 months shy of a year open. Should I wait until the 1 year mark with them or is it ok to close now? Also I know most say they stay on ur CR for 10 years but I saw somoene post on here last week that they closed a card and it came off immediately. Is there a reason that might happen? Also does it matter if the closed card(s) actuallty do stay on your CR or not?
Thanks!
Starting scores 12/1/15 EQ 601, TU 626, EX 601
@ronstar7 wrote:Hi all,
I am looking to close about 4 maybe 5 cards that I got via SCT that have a 0 balance and I simply dont want anymore. They are roughly 2 months shy of a year open. Should I wait until the 1 year mark with them or is it ok to close now? Also I know most say they stay on ur CR for 10 years but I saw somoene post on here last week that they closed a card and it came off immediately. Is there a reason that might happen? Also does it matter if the closed card(s) actuallty do stay on your CR or not?
Thanks!
Accounts stay on unless something wierd happens. Wouldn't worry about that.
If there's an AF I'd close them before the year, if it's $0 I'd close it after it reported the 12th payment personally; tradeline anniversary is probably 0 but it might be a small bonus too.
@Revelate wrote:
@ronstar7 wrote:Hi all,
I am looking to close about 4 maybe 5 cards that I got via SCT that have a 0 balance and I simply dont want anymore. They are roughly 2 months shy of a year open. Should I wait until the 1 year mark with them or is it ok to close now? Also I know most say they stay on ur CR for 10 years but I saw somoene post on here last week that they closed a card and it came off immediately. Is there a reason that might happen? Also does it matter if the closed card(s) actuallty do stay on your CR or not?
Thanks!
Accounts stay on unless something wierd happens. Wouldn't worry about that.
If there's an AF I'd close them before the year, if it's $0 I'd close it after it reported the 12th payment personally; tradeline anniversary is probably 0 but it might be a small bonus too.
Thanks, yeah these are all no fee store cards and I know I wont use them. I just checked and 2 are well overe the year mark so I will close at least those. The others have a few more months before hitting a year.
@takeshi74 wrote:
@ronstar7 wrote:Also does it matter if the closed card(s) actuallty do stay on your CR or not?
It affects AAoA as AAoA includes both open and closed accounts. Whether or not the impact is positive or negative depends on the tradeline and the age of your other reported accounts.
Oh ok, it will prob be negative to AAOA because its short anyway but its fine. I know it will bounce back as the other cards I have age. I dont intend to apply for anything anytime soon so it shouldnt be a problem.
Thanks!