How beneficial is it to leave oldest account open?

[NRB525]

Did you apply for Diners Club?

[Shock]

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@NRB525 wrote:

Did you apply for Diners Club?

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is this in the wrong thread? i never intended on applying for diners club

[NRB525]

Ok, just checking.

[Shock]

Having mixed feelings again haha, i really want to close it. I probably will just leave them to close it. I won't be making any more charges on it

[Anonymous]

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@Shock wrote:

Having mixed feelings again haha, i really want to close it. I probably will just leave them to close it. I won't be making any more charges on it

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Not even a pack of gum?

[NRB525]

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@Shock wrote:

Having mixed feelings again haha, i really want to close it. I probably will just leave them to close it. I won't be making any more charges on it

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So, my reason for asking about DC is, with your credit score, goals of 5 cards = $100k, (which means you need and want to see higher limits on each card), preference for better interest rates (13.15% may beat anything you've got), and that you seem open to AF based on some of your cards, that DC Premier card is the trifecta for you.

[takeshi74]

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@Shock wrote:

So my Cap1 Venture One is my oldest card (3.5 years old). I know keeping the oldest card open is beneficial for some, and that AAoA wont really be affected until a few years down the line. I know it will continue to report as positive for ten years, but if it doesnt suit my needs, I should close it right?

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Your call to make.  Some prefer to keep everything open.  Some only keep no AF cards open.  Some don't keep anything open that they don't find useful. 

If knowing the impact to your AAoA would help you in your decision making you can do the math 10 years down the road to see what would happen to your AAoA but I have no idea how you're going to predict what accounts you'll open and close in that span of time.

Another thing you might want to consider is if you can actively monitor this card for fraud if you have no use for it.  Are you willing to maintain minimum activity to keep it open?

[taxi818]

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@Anonymous wrote:

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@Shock wrote:

Having mixed feelings again haha, i really want to close it. I probably will just leave them to close it. I won't be making any more charges on it

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Not even a pack of gum?

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Well after following your thread. I went I yo td bank yesterday and closed m card. 500 dollar limit. Reality useless. I don't care if I lose points bacause of it either. It was really becoming a pain. Can't cash rewards until 2500 points. 1point per dollar   I know it's best for me. If you're feeling like you  want close. Just do it. 

[Anonymous]

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@taxi818 wrote:

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@Anonymous wrote:

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@Shock wrote:

Having mixed feelings again haha, i really want to close it. I probably will just leave them to close it. I won't be making any more charges on it

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Not even a pack of gum?

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Well after following your thread. I went I yo td bank yesterday and closed m card. 500 dollar limit. Reality useless. I don't care if I lose points bacause of it either. It was really becoming a pain. Can't cash rewards until 2500 points. 1point per dollar   I know it's best for me. If you're feeling like you  want close. Just do it. 

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A $500 limit is never useless unless it's a store card.

[Shock]

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@Anonymous wrote:

Not even a pack of gum?

not even a pack of gum haha. the funny thing is, when i apped for the card, i initially thought i got declined so i thought nothing of it. i was living in another city at the time, and they actually approved me and sent me a card. then they started reporting the card to the bureaus. so, for 1.5 years, my card was reporting as a positive tradeline and i hadnt even activated the card.