cancel
Showing results for 
Search instead for 
Did you mean: 

Closing store cards

tag
Anonymous
Not applicable

Closing store cards

OK I I few store cards I decided I don't want which are Jcrew and express will it hurt if I close them I just got them and they haven't been used yet or should I just let them close thier self out for non use
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Closing store cards

It shouldn't hurt your credit score at all.... they probably haven't even had time to report yet. Even if they have, a closed account ages for up to 10 years if its history is positive. The only downside, if they have reported, would be the loss of available credit at your disposal, but more than likely these amounts aren't large enough to matter.

 

Call them and close them yourself. Always looks better to have an account read "Account closed at consumers request" than "Account closed by credit grantor." The former signifies that its closing was your choice... the latter implies it was theirs.

 

Message 2 of 5
pipeguy
Senior Contributor

Re: Closing store cards

IMO, based on your limited  credit limits and number of accounts (as listed in your sig) I would keep these accounts open. Comenity and I don't get along, but I can't remember Comenity closing accounts for non-use and you gain nothng from closing them. Once you establish higher credit limits and "prime" cards, you can look to thin the wallet.

Message 3 of 5
Anonymous
Not applicable

Re: Closing store cards

I have 5 store cards not listed in my signature I will only use 3 of them they have reported on my CR they are all just $250 limit each but if they will report as OK every month I'll leave them I have no credit history so I needed them
Message 4 of 5
App_Addict
Valued Contributor

Re: Closing store cards

Just as the others have stated, doesn't hurt to keep them open and just SD them until you build up some more, or close them if you like without it hurting you other than your Util.

CURRENT SCORES: TU: 698 21 Apps / EX: 644 28 Apps / AAoA: 4.4 Yrs. / Util. 5% / Goal: 750 by 12/22

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.