Credit Cards

[kpresod]

Hi All,

I would like to close my not being used credit one account $400 I opened in April 2012. It has been 7 months now since I've had this, and it has never been used; I basically ignored it. Should I wait it out? or can I close? 

[youngandcreditwrthy]

If it has fees and you can replace it.... Close it!

[kpresod]

Just called up and was told that because I opened this account in april it won't accrue any fees until the account has officially make a year! But I hate seeing this account anyways...especially since cap1, walmart, boa, and paypal sc have been showing me much love!

[KIPPIE12]

Close it if its loaded with monthly fees, and AF's.  It's also a daily interest accruing account, so i don't think it gives a grace period for purchases either. My nephew got this card when he started building last year, and we closed it and opened a credit union visa for him.  I would definitely close it if you don't need it.  It won't affect your AAoA if you close it, because it will continue to report for 10 years from the time it's closed.

[youngandcreditwrthy]

Yep! No brainer... Close 'er down esp since you have those other cards!

[kpresod]

Thanks! and will do in the AM....I thank you all for the advice given 

[nicholasyud]

i had the same problem with my credit one card with 400 limit and come with fees fees every month....want to closed it out but i guess i might just gonna closed it by the 11th months statement since i already paid them $75 annual fees.....dont know why should i apply for this piece of crap because i heard someone told me with 3 credit line for better score.....hmmmmmm...........i guess its stuck with me for another 10 years after i closed....;-(