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Does it look bad...

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DigitalArk
Valued Contributor

Does it look bad...

...if I close an account with 0 balance that I opened 2 months ago?

Message 1 of 13
12 REPLIES 12
Kenny
Moderator Emeritus

Re: Does it look bad...

Which one are you thinking of closing? I'm thinking of closing some of mine, as well.

Message 2 of 13
enharu
Super Contributor

Re: Does it look bad...


@DigitalArk wrote:

...if I close an account with 0 balance that I opened 2 months ago?


not at all.

if anyone ever asks just explain that the card didn't met your expectations or just wasn't right for you.

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 3 of 13
DigitalArk
Valued Contributor

Re: Does it look bad...


@enharu wrote:

@DigitalArk wrote:

...if I close an account with 0 balance that I opened 2 months ago?


not at all.

if anyone ever asks just explain that the card didn't met your expectations or just wasn't right for you.

 


Thank you. Smiley Happy

Message 4 of 13
B335is
Moderator Emeritus

Re: Does it look bad...


@enharu wrote:

@DigitalArk wrote:

...if I close an account with 0 balance that I opened 2 months ago?


not at all.

if anyone ever asks just explain that the card didn't met your expectations or just wasn't right for you.

 


+1

 

I did this with a Buckle card and it's never been mentioned.

Message 5 of 13
sdwalt
Regular Contributor

Re: Does it look bad...

I closed a few shopping cart cards without ever using them, and I am going to close VS. I was stupid to even open them and I feel better now that they are gone. lol 

Message 6 of 13
takeshi74
Senior Contributor

Re: Does it look bad...


@DigitalArk wrote:

...if I close an account with 0 balance that I opened 2 months ago?


Immediate impact from closure is to utilization and you can calculate your utilization before and after.  The damage (HP, hit to AAoA) was already done when you applied.

Message 7 of 13
xXIDaShizIXx
Established Contributor

Re: Does it look bad...

+1

Bank of America Cash Rewards: $70k; Chase Sapphire Preferred: $35k; Capital One Quicksilver: $21.2k; Citi AAdvantage: $23.5k; Care Credit: $20k; Chase Freedom: $12.5k; Chase Freedom Unlimited: $12.5k; Citi Simplicity: $15.9k; Wayfair: $22K; Barclaycard Rewards: $10k; Car Care One: $10k; AMEX BCE: $15k; Discover IT Miles: $10k; Citi DC: $9.2k; Marvel: $10k; Ashley Furniture: $6k; PayPal Credit: $10k; US Bank Cash +: $5k;
Message 8 of 13
DigitalArk
Valued Contributor

Re: Does it look bad...

Is it better to wait till next statement cuts, since there was a small balance, $67, had been reported on the last statement? 

What if there is a negative balance has been reported? (overpaid)

Message 9 of 13
enharu
Super Contributor

Re: Does it look bad...

You will be fine eitherways. If you already paid it off it will report the 0 balance together with account closure.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 10 of 13
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