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See ya store cards???

Mega Contributor

Re: See ya store cards???


jlfce1 wrote:

LS2982 wrote:

No AF, 0% deals, high CLs (GE). I have a lot of store cards and I would definitely manage them over closing them. They come in handy.


If I leave these open and go to apply for a mortgage next year, it won't look bad? Also, how many open CC's is too many?   I won't be using them and I don't want to manage using them every so often to make movement. I read somewhere on this site that someone's score was lowered because they used a card that had been inactive?

 

My statement just closed on my pament for the last of my cards which once reported will bring my Utilization down to <10%.  It will still have a small balance and  I have a balance on my CFNA card because they offer the 0% for 6 months, so I level the payments into 5 and carry a balance to take advantage of that.  Those are my cards with a balance out of 20 cards total....the rest are at 0.


Your mortgage app should be just fine. Only if the LO requests you to close accounts I would.




EQ FICO 548 3/3/16
Message 11 of 12
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Regular Contributor

Re: See ya store cards???


LS2982 wrote:

jlfce1 wrote:

LS2982 wrote:

No AF, 0% deals, high CLs (GE). I have a lot of store cards and I would definitely manage them over closing them. They come in handy.


If I leave these open and go to apply for a mortgage next year, it won't look bad? Also, how many open CC's is too many?   I won't be using them and I don't want to manage using them every so often to make movement. I read somewhere on this site that someone's score was lowered because they used a card that had been inactive?

 

My statement just closed on my pament for the last of my cards which once reported will bring my Utilization down to <10%.  It will still have a small balance and  I have a balance on my CFNA card because they offer the 0% for 6 months, so I level the payments into 5 and carry a balance to take advantage of that.  Those are my cards with a balance out of 20 cards total....the rest are at 0.


Your mortgage app should be just fine. Only if the LO requests you to close accounts I would.


Awesome news! Thanks for everyone's time and input!

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Message 12 of 12