I got spiegel card some time around Nov last year. I am not using it as there are no stores around here. Should I just close or leave it alone? I dont want them to close it on my due to inactivity and make it look bad on my CR. I would rather close it ahead of time. What do you think? Should I send it to chopping block or keep it?
Hey there concord! I am a relative newbie, so I do not have a lot of experience.
However, I have been slowly closing cards that are either, not of any use to me, or are low limit cards that I will not use.
My Fico went up 14 points this month, nothing aged over a year, util stayed the same, no inqs fell off. The only change I can see is the four cards I have closed. Before closing the cards though I do a util picture mentally. If I can close the cards and still keep util low I do it! I PIF every month but I let stuff report.....
You have so many credit options from what I have read, that sometimes we can see the things we truly do not need and get rid of them without a negative impact.
This is just MHO, but if it is not serving a purpose for you I say CLOSE that sucker!
I almost got one of these cards in my early days of rebuilding when I was desperate for any positive TL I could get, because I got preapproved on their website and a subsequent preapproved offer by mail. I decided not to get the card after looking at the website and realizing there were exactly zero items I was interested in buying there.
Concord, if you're not going to use the card, I would close it. You have plenty of positve TLs that will contribute to average age many years down the road. This one account is not going to make that much difference when it falls off ten years from now.
---------------------------- App free since 7/11/08. TU 744 / EX 710 / EQ 694 (Starting to slip. )