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Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Thinking About Closing My Gas Cards

[ Edited ]

I have a Shell & Citgo gas card I rarely ever use now. No AF but with gas prices being so high now an the APR's on gas cards are high it don't really make since to have them now. Both cards where opened back in 2008. I'm also trying to lower the amount of accounts I have it's getting kind of difficult for me to keep up with them not that they have balances but keep them active.


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Re: Thinking About Closing My Gas Cards

Any advice people? LOL


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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Valued Contributor
Posts: 1,588
Registered: ‎04-24-2008
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Re: Thinking About Closing My Gas Cards

[ Edited ]

mjbfan79 wrote:

I have a Shell & Citgo gas card I rarely ever use now. No AF but with gas prices being so high now an the APR's on gas cards are high it don't really make since to have them now. Both cards where opened back in 2008. I'm also trying to lower the amount of accounts I have it's getting kind of difficult for me to keep up with them not that they have balances but keep them active.



Are these your oldest cards? If it is...than that would effect your AAoA if you close them out. If you carry a ZERO balance, the APR is not relevant. You can sock drawer the cards and if they closed it down the road for in-activity than they are doing you a favor. The cards doesn't have any AF so it doesn't cost you anything if you stick it in your SD.

 

I may add, even if you close out the CCs, it's still going to be on your CR for the next 10yrs.

Established Member
Posts: 1,162
Registered: ‎01-22-2008
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Re: Thinking About Closing My Gas Cards

+1

 

Closing them WILL NOT lower your AAoA.  If you pif the APR is irrelevant.  If you feel you have to many cards to manage, cut them up.  But leave them open.  Even if you keep them open and don't use them for the next year and it takes the ccc that long to close them due to inactivity, you gain an additional year of positive history.   No AF, no punishment for keeping them open at all.  I personally have a Shell card that was opened in 2001.  I last used it in 2004.  It's still open and reporting.....


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
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Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
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Re: Thinking About Closing My Gas Cards


tntexans72 wrote:

mjbfan79 wrote:

I have a Shell & Citgo gas card I rarely ever use now. No AF but with gas prices being so high now an the APR's on gas cards are high it don't really make since to have them now. Both cards where opened back in 2008. I'm also trying to lower the amount of accounts I have it's getting kind of difficult for me to keep up with them not that they have balances but keep them active.



Are these your oldest cards? If it is...than that would effect your AAoA if you close them out. If you carry a ZERO balance, the APR is not relevant. You can sock drawer the cards and if they closed it down the road for in-activity than they are doing you a favor. The cards doesn't have any AF so it doesn't cost you anything if you stick it in your SD.

 

I may add, even if you close out the CCs, it's still going to be on your CR for the next 10yrs. 

Can I ask you a question?  Why would it matter if OP closes or the company closes in terms of AAoA?  Why do you say not close bc of AAoA but then say they are doing him a favor if they close it down the road?


 

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
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Valued Contributor
Posts: 1,998
Registered: ‎03-31-2008
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Re: Thinking About Closing My Gas Cards

Thx for advice think I will let them be for now


Starting Score 3-31-08: EQ 582 TU 577 EX 625
Current Score 3-19-10: EQ 703 TU 712 EX No Clue
Goal Score: 800 By January Of 2012


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