My first CLD from GE - should I just close that card (and potentially other ones as well)?

[jeffery581]

RE: Why not just make a small charge or so every six months?

Because I refuse to spend money/buy something I dont need to keep a card open.

Close it if you dont want or need it I say. Keep 3-5 open for good credit/rewards and be done with it. I plan on closing several this month. Who wants to spend all the time managing so many? No me, I am over it.

IMO

[SnackTrader]

@mikka,

In your hypothetical scenario, I don't think you could salvage the $200 line from reporting. Once most lenders make CLD determinations, their mind is made up even if you close the card. It might happen where you could close it early enough, but I would say that's a rare case. Lenders can update info about a TL even after it is reported closed.

And my answer to your scenario the way it was presented would be to close it, assuming you could avoid all other lenders seeing the CLD.

[kayvee_]

when the recession hit, old navy CLD my card. I stopped using it for a while and eventually it went back up. keep it open.