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Ducks in a row for closing comenity cards?

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Anonymous
Not applicable

Ducks in a row for closing comenity cards?

I cancelled my Brylane Home card yesterday. I plan to get rid of all my comenity cards except VS. I just want to make sure that other than AAoA hit when they age off that I won't adversely affect my credit otherwise. 

 

The plan is to cancel one each time CLIs meet or exceed the value of that card to preserve my util.

 

Extra details:

I'm not apping for anything til 5/2017.

None of these are my oldest accounts.

They are all at a 0 balance now.

Overall util is 16% working down to 10% this year.

 

I just want to make sure I'm not missing a factor that might hurt my profile. Comenity never did me wrong, but this is just way too much micromanaging with this many accounts. 

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Ducks in a row for closing comenity cards?


@Anonymous wrote:

I cancelled my Brylane Home card yesterday. I plan to get rid of all my comenity cards except VS. I just want to make sure that other than AAoA hit when they age off that I won't adversely affect my credit otherwise. 

 

The plan is to cancel one each time CLIs meet or exceed the value of that card to preserve my util.

 

Extra details:

I'm not apping for anything til 5/2017.

None of these are my oldest accounts.

They are all at a 0 balance now.

Overall util is 16% working down to 10% this year.

 

I just want to make sure I'm not missing a factor that might hurt my profile. Comenity never did me wrong, but this is just way too much micromanaging with this many accounts. 


The only way that they really hurt your score is if losing the limits affected yor overall utilization.  Given that you have a plan for that you're free to close away without consequences.

Message 2 of 6
Anonymous
Not applicable

Re: Ducks in a row for closing comenity cards?


@Anonymous wrote:

@Anonymous wrote:

I cancelled my Brylane Home card yesterday. I plan to get rid of all my comenity cards except VS. I just want to make sure that other than AAoA hit when they age off that I won't adversely affect my credit otherwise. 

 

The plan is to cancel one each time CLIs meet or exceed the value of that card to preserve my util.

 

Extra details:

I'm not apping for anything til 5/2017.

None of these are my oldest accounts.

They are all at a 0 balance now.

Overall util is 16% working down to 10% this year.

 

I just want to make sure I'm not missing a factor that might hurt my profile. Comenity never did me wrong, but this is just way too much micromanaging with this many accounts. 


The only way that they really hurt your score is if losing the limits affected yor overall utilization.  Given that you have a plan for that you're free to close away without consequences.


Thanks for taking a look at it! I feel like I can breathe a little easier. My util is the only reason I'm waiting on cutting all these into little tiny pieces. Smiley Very Happy

Message 3 of 6
Anonymous
Not applicable

Re: Ducks in a row for closing comenity cards?


@Anonymous wrote:

@Anonymous wrote:

I cancelled my Brylane Home card yesterday. I plan to get rid of all my comenity cards except VS. I just want to make sure that other than AAoA hit when they age off that I won't adversely affect my credit otherwise. 

 

The plan is to cancel one each time CLIs meet or exceed the value of that card to preserve my util.

 

Extra details:

I'm not apping for anything til 5/2017.

None of these are my oldest accounts.

They are all at a 0 balance now.

Overall util is 16% working down to 10% this year.

 

I just want to make sure I'm not missing a factor that might hurt my profile. Comenity never did me wrong, but this is just way too much micromanaging with this many accounts. 


The only way that they really hurt your score is if losing the limits affected yor overall utilization.  Given that you have a plan for that you're free to close away without consequences.


Agreed!

Message 4 of 6
score_building
Senior Contributor

Re: Ducks in a row for closing comenity cards?

In general no fee cards should be open at least 24 months, wait until then unless prefer not to for some reason.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 5 of 6
Anonymous
Not applicable

Re: Ducks in a row for closing comenity cards?


@score_building wrote:

In general no fee cards should be open at least 24 months

Why is that?

Message 6 of 6
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