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Recent approval of Discover IT ....should I close ???

Established Contributor

Recent approval of Discover IT ....should I close ???

I was just approved for 1000 CL with I Discover It card....I have a HSBC/Cap one  Direct rewards Discover with 0 balance ,no fee opened in  2007 Will AAOA take a hit

 

 

.....1300 CL...so utlity wise wont hurt but I don need all these cards that I will never use...it was a rebuilder..

 

I know that my score will take a hit when new accounts hit but in the garden so does not really matter...

 

thanks


Message 1 of 6
5 REPLIES
Established Contributor

Re: Recent approval of Discover IT ....should I close ???

Congrats on the cli

Message 2 of 6
Frequent Contributor

Re: Recent approval of Discover IT ....should I close ???

If there is no fee's i don't see any reason to close it. 

Message 3 of 6
Super Contributor

Re: Recent approval of Discover IT ....should I close ???


Mike360 wrote:

If there is no fee's i don't see any reason to close it. 


If it has no AF then I would just SD it and leave it be. If it has an AF, I would cancel it. It won't affect your AAoA as it will continue to report for 10 years from the date of closing. 

Message 4 of 6
Established Contributor

Re: Recent approval of Discover IT ....should I close ???

SD the card and keep it open,  will help AAOA!

 

BOA: 8.9k
CSP: 5k
Discover: 5k
Citi TY Preferd: 5k
Wally: 5k
JCP: 4.9k
citiForward: 4.7k
ChaseFreedom: 4.5k
DFS: 2k
Message 5 of 6
Blogger

Re: Recent approval of Discover IT ....should I close ???

I agreed with everything others have said. Never close a no-annual fee credit card except to lower total credit limits. 

Message 6 of 6