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Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Should I keep the Spiegel Card or Close it?

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?
Established Contributor
Posts: 648
Registered: ‎02-04-2008
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Re: Should I keep the Spiegel Card or Close 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!
Senior Contributor
Posts: 4,596
Registered: ‎09-14-2007
0

Re: Should I keep the Spiegel Card or Close it?

I'm wrestling with the same dilemma on a QVC card. I think I'm going to close it when the timing's right.
"Never ever, ever be late. Never" (FUTR)
Established Contributor
Posts: 648
Registered: ‎02-04-2008
0

Re: Should I keep the Spiegel Card or Close it?



Sylviatob wrote:
I'm wrestling with the same dilemma on a QVC card. I think I'm going to close it when the timing's right.




I think the timing thing is VERY important! It felt good to get rid of my blah stuff, and less to track. Good luck Sylvia!
Regular Contributor
Posts: 224
Registered: ‎02-04-2008
0

Re: Should I keep the Spiegel Card or Close it?

I keep mine open simply to snag birthday gifts now and then. I'm hoping that one day they'll decide I'm worthy of their Mastercard (also issued by WFNNB).
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
0

Re: Should I keep the Spiegel Card or Close it?

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. Smiley Surprised )
Established Contributor
Posts: 853
Registered: ‎03-21-2008
0

Re: Should I keep the Spiegel Card or Close it?

Hey Concord...They do have a Spiegel M/C, perhaps they will give you the old upgrade-a-roo?  It's probably worth a shot.  You can practice the "upgrade or close it" maneuver...lol.  Good Luck.
07/26/2007 TU-688
EQ-656
EX-649
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