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Consolidating Credit Cards for 1 w/ rewards / Closing Credit Card

Hello myFICO forum,

 

I have 4 credit cards (MC / Visa) & only 1 has any real benefits/rewards (Citi American Aadvantage - Platinum).  My question is I would like to (if possible) consolidate / upgrade from that Citibank Aadvantage to the Citibank Executive World Elite as it carries some of the same rewards but some additional ones that fit my needs as I travel a bit for work.  Could or should I do this, in essence closing my Citi Aadvantage Platinum?  Would it negatively affect my credit score if I could consolidate?  If I can't consolidate would applying / getting the new Executive card negatively affect my score?

 

Follow up question my wife & I have a couple of jewelry store credit cards (Kays/Zales) from our wedding.  We have not used them in about 1.5 years.  I know it's good to use cards every once in a while.  Does this apply to store credit cards?  What happens if we let these or clothing store credit cards just sit & not use?

 

Thank you for all your help!

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Senior Contributor
Posts: 26,806
Registered: ‎02-07-2013
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Re: Consolidating Credit Cards for 1 w/ rewards / Closing Credit Card


Psirix wrote:

Hello myFICO forum,

 

I have 4 credit cards (MC / Visa) & only 1 has any real benefits/rewards (Citi American Aadvantage - Platinum).  My question is I would like to (if possible) consolidate / upgrade from that Citibank Aadvantage to the Citibank Executive World Elite as it carries some of the same rewards but some additional ones that fit my needs as I travel a bit for work.  Could or should I do this, in essence closing my Citi Aadvantage Platinum?  Would it negatively affect my credit score if I could consolidate?  If I can't consolidate would applying / getting the new Executive card negatively affect my score?

 

Follow up question my wife & I have a couple of jewelry store credit cards (Kays/Zales) from our wedding.  We have not used them in about 1.5 years.  I know it's good to use cards every once in a while.  Does this apply to store credit cards?  What happens if we let these or clothing store credit cards just sit & not use?

 

Thank you for all your help!


Welcome to the Forum:smileyhappy:



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Posts: 3,197
Registered: ‎01-24-2010
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Re: Consolidating Credit Cards for 1 w/ rewards / Closing Credit Card


Psirix wrote:

Hello myFICO forum,

 

I have 4 credit cards (MC / Visa) & only 1 has any real benefits/rewards (Citi American Aadvantage - Platinum).  My question is I would like to (if possible) consolidate / upgrade from that Citibank Aadvantage to the Citibank Executive World Elite as it carries some of the same rewards but some additional ones that fit my needs as I travel a bit for work.  Could or should I do this, in essence closing my Citi Aadvantage Platinum?  Would it negatively affect my credit score if I could consolidate?  If I can't consolidate would applying / getting the new Executive card negatively affect my score?

 

Follow up question my wife & I have a couple of jewelry store credit cards (Kays/Zales) from our wedding.  We have not used them in about 1.5 years.  I know it's good to use cards every once in a while.  Does this apply to store credit cards?  What happens if we let these or clothing store credit cards just sit & not use?

 

Thank you for all your help!


None of these things will have any significant effect on your credit.    I suggest you apply for the card you want if they don't allow consolidation, which I gues they won't.   Just let your store cards sit and likely they will eventually close, but that is not a negative. 

 

 

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