Should I close comenity cards?

[Anonymous]

During my rebuilding journey I used the shopping cart trick and got 2 cards from comenity, buckle and express, both $250 limits. Since getting those cards a couple months ago I've been approved for some decent prime cards. Now I'm regretting getting the store cards, seeing as how I'll probably never use them (lesson learned). 

My question is:  If I close both of them, will the age be stuck at 2 months, dragging my aaoa down for an entire 10 years they remain on my report, or should I let them age at least a year, then close? Or am I missing something? Sorry for the confusion.

[chalupaman]

They'll remain on your report for 10 years but they will say that they were closed by request.

I'd go ahead and dump em if you want especially seeing what limits you have for both compared to the ones in your sig. That's what I did with several of my store cards once I got better cards and I have no regrets about it.

[revivemycredit]

it will continue to help with your aaoa, they will no longer count towards utilization though

i'd keep it open for at least 12-24 months total, especially if it doesn't have an AF, that's just me though

[Anonymous]

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@revivemycredit wrote:

it will continue to help with your aaoa, they will no longer count towards utilization though

i'd keep it open for at least 12-24 months total, especially if it doesn't have an AF, that's just me though

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Thanks for the reply! Right now they are hurting my aaoa. What I'm unclear about is if I close them at 2 months of age, will it continue to affect my aaoa as (2) 2 month old account for an entire 10 years, meaning I'd just be better off leaving them open allowing them to age. I'm just not sure I understand how closed accounts affect your report/scoring.

[taxi818]

Yes they will continue to affect.  You already paid for them. May as we'll keep. However.  A silver lining. The cli with these cards can be huge. Ask around. Most people got 4-6k cli thru trick after 3 months or so.  Easy to help utilization. Even if you don't use it's like saying I don't want to get fat after you ate the ice cream.  

[Anonymous]

On one hand I want to close them because they are small limits and not needed. On the other hand I want to keep them because they were a soft pull and I need at least one store/charge accout for mix right?

[chalupaman]

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@Anonymous wrote:

On one hand I want to close them because they are small limits and not needed. On the other hand I want to keep them because they were a soft pull and I need at least one store/charge accout for mix right?

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Credit mix would determine about 10% of your FICO score. 

[Anonymous]

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@chalupaman wrote:

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@Anonymous wrote:

On one hand I want to close them because they are small limits and not needed. On the other hand I want to keep them because they were a soft pull and I need at least one store/charge accout for mix right?

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Credit mix would determine about 10% of your FICO score. 

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I do have an installment loan, but I suppose having a store card helps too. Maybe I'll just close the buckle card since it's the one I'd probably never use. 

[chalupaman]

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@Anonymous wrote:

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@chalupaman wrote:

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@Anonymous wrote:

On one hand I want to close them because they are small limits and not needed. On the other hand I want to keep them because they were a soft pull and I need at least one store/charge accout for mix right?

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Credit mix would determine about 10% of your FICO score. 

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I do have an installment loan, but I suppose having a store card helps too. Maybe I'll just close the buckle card since it's the one I'd probably never use. 

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Sounds like a good plan to me. Just put an occasional charge on the one you're gonna keep and PIF basically and perhaps you'll be able to get a CLI on it later on. I've kept like 3 store cards because of how great GE has been to me in the auto CLI department and that I sometimes still use them myself when I'm at Wal-Mart or feel like buying something on Amazon.

[Anonymous]

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@chalupaman wrote:

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@Anonymous wrote:

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@chalupaman wrote:

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@Anonymous wrote:

On one hand I want to close them because they are small limits and not needed. On the other hand I want to keep them because they were a soft pull and I need at least one store/charge accout for mix right?

---

Credit mix would determine about 10% of your FICO score. 

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I do have an installment loan, but I suppose having a store card helps too. Maybe I'll just close the buckle card since it's the one I'd probably never use. 

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Sounds like a good plan to me. Just put an occasional charge on the one you're gonna keep and PIF basically and perhaps you'll be able to get a CLI on it later on. I've kept like 3 store cards because of how great GE has been to me in the auto CLI department and that I sometimes still use them myself when I'm at Wal-Mart or feel like buying something on Amazon.

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Right on. I'll definitely be hitting that luv button (hopefully a few times) at the 9 month mark, you can bet on that!