Trying to close/remove cc

[Anonymous]

I pulled my report from equifax a month ago. I have an account from HSBC/Music showing up. It was opened in 2005 and I NEVER used it. There is a $0 balance and $0 credit limit. I called HSBC and they don't have a card under my SSN. He said I need to call equifax to get it removed. Is this correct? It's showing up as an open account on my report, but it's not there according to HSBC. I wanted to get it removed.

Also I have a cc through paypal that was opened in 2004. I never used it and the credit limit is only $700. Should I close that account as well? It it showing up as an open account. I also have a Bank of America that was opened 04/2004 credit limit $2,000. I got this when I bought something from apple. I haven't used it since then. I would like to remove these three accounts and I'm looking to apply for a new card with a higher limit and low %. My Fico scores are 750's. I have 3 cc that I will keep. I just want to remove some of the small accounts and get good ones listed. Is this a bad thing to do?

Thanks in advance!! 

[cobra19]

I would not close those accounts. They are very likely helping you with history and utility. Only way I'd close an account is if there is an AF attached to it.  

[Anonymous]

But if HSBC can't even find an account under my SSN and the account is listed as $0 limit shouldn't I try to remove it? Or is the age helping?

Will these account eventually get closed due to inactivity? No activity on any of them for 3-4 years.

[cobra19]

What is the "current status" of the HSBC account? As long as it is not hurting you, I would keep it.  

As for the others, you might want to use them once every 2-3 months for something small. Just to keep them active. There is really nothing to be gained by closing a good account, unless it is costing you $$.

[Anonymous]

All of them are $0 balance, don't use them and won't be using them.

[Anonymous]

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@Anonymous wrote:
All of them are $0 balance, don't use them and won't be using them.

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What Cobra is pointing out is that even if you don't really "need" these cards, keeping them active can be beneficial as far as building credit history and age.

So there is some benefit to keeping these accounts active & open.

Whereas unless there is an annual or other fee involved, there really is NOT a benefit to closing them (or allowing them to close due to inactivity).

[score_building]

Closing Credit Cards

Both cobra119 and jacred are correct.  To learn more about closing credit cards the right way see above post by fused.  gl.

Message Edited by score_building on 10-07-2008 02:04 PM

[Anonymous]

Thanks for the replies.

Cobra you said to use the accounts to keep them open. I won't be using them, because one the HSBC account really doesn't exhist according to HSBC, so it's just showing up on my reports when really there isn't an account. For the other two I don't even have a card for them. The Bank of America was credit given to me when I bought an ipod 4 years ago. So I can't use them. I will leave them sit for the sake of age and history on my report. I could contact bank of america about getting a card though. I do want to get another card with a lower % than my current 3 cards, only 1 I use.

Message Edited by SLP205 on 10-07-2008 02:20 PM