Weeding out the cards.

[Anonymous]

My currently line up is CSP 10.3k, Cap1 QS 8.5k, Discover 13k, Amex 6k, BOA BBR 5k, Barclay rewards 5.7k and Chase Freedom 5.7k. Only cards that I don't really use is Barclay. I'm kinda of sick of running one payment on it every month. Should I just close them out? Not afraid of the utilization hit since my utilization is about 5/6 percent all on two zero interest cards.

[driftless]

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@Anonymous wrote:
My currently line up is CSP 10.3k, Cap1 QS 8.5k, Discover 13k, Amex 6k, BOA BBR 5k, Barclay rewards 5.7k and Chase Freedom 5.7k. Only cards that I don't really use is Barclay. I'm kinda of sick of running one payment on it every month. Should I just close them out? Not afraid of the utilization hit since my utilization is about 5/6 percent all on two zero interest cards.

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I would close out Barclay, let that sit for a while and then re-evaluate again.  

[Anonymous]

That's what I'm leaning towards. It doesn't real grow with you and the rewards system isn't worth it for my spending. They lowered my APR once by 1 point to and a weak CLI once after 6 months and nothing else after having it for a little over two years

[Anonymous]

You don't have to close it; you could just let it age until Barclays closes it. For cards that don't have annual fees (which I think your Barclays card is one of them--if it does have an annual fee just close it when it comes due) I think it's worth considering to just leave the card open to prop up your AAOA. Check in every once in a while to ensure no fraudulent charges have been made to the card, but don't put any spend on it.

But, for what it's worth, I had a Barnes & Noble card from Barclays and I closed it despite my advice above. I had enough older cards that I didn't really see a hit to my score, but there's always a chance my score would be higher with that card adding to the AAOA. At the end of the day it may more may not matter to your profile, but it's worth considering.

[Anonymous]

It wouldn't have any affect on AAOA, it would still report for ten years as a positive account. Utilization isn't a worry. Assuming I keep the same amount repeating my utilization would go to 7/8 percent as oppose to 5/6.

I'm more concerned with Barclaybeing AA happy and CLDing me or closing it by them and having it report as closed by granter. Which would look bad for a manual review.

[NRB525]

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@Anonymous wrote:
It wouldn't have any affect on AAOA, it would still report for ten years as a positive account. Utilization isn't a worry. Assuming I keep the same amount repeating my utilization would go to 7/8 percent as oppose to 5/6.

I'm more concerned with Barclaybeing AA happy and CLDing me or closing it by them and having it report as closed by granter. Which would look bad for a manual review.

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A closed card is a closed card. Anyone looking for a manual review is only going to see that you had the card, had good payment history with it, and no longer have that credit avaialble. This is a normal part of credit, and it doesn't make any difference if the granter closed it, or you asked to close it, it's just part of your card history.

I would tend to just let it run if there are no AF. You never know if Barclays will come up with a promotion at some point in the future for short term spend to entice you to use it.

[Anonymous]

I recently dealt with fraud on an account that made me realize having too many cards/account is a huge PITA. I'm slimming down to the bare minimum because of that. Trim the fat!

[Anonymous]

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@NRB525 wrote:

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@Anonymous wrote:
It wouldn't have any affect on AAOA, it would still report for ten years as a positive account. Utilization isn't a worry. Assuming I keep the same amount repeating my utilization would go to 7/8 percent as oppose to 5/6.

I'm more concerned with Barclaybeing AA happy and CLDing me or closing it by them and having it report as closed by granter. Which would look bad for a manual review.

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A closed card is a closed card. Anyone looking for a manual review is only going to see that you had the card, had good payment history with it, and no longer have that credit avaialble. This is a normal part of credit, and it doesn't make any difference if the granter closed it, or you asked to close it, it's just part of your card history.

I would tend to just let it run if there are no AF. You never know if Barclays will come up with a promotion at some point in the future for short term spend to entice you to use it.

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Any downside to closing out a freshly new card after opening it ....VS.... waiting it out and closing out  the card a year later? 

[wasCB14]

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@Anonymous wrote:
You don't have to close it; you could just let it age until Barclays closes it. For cards that don't have annual fees (which I think your Barclays card is one of them--if it does have an annual fee just close it when it comes due) I think it's worth considering to just leave the card open to prop up your AAOA. Check in every once in a while to ensure no fraudulent charges have been made to the card, but don't put any spend on it.

But, for what it's worth, I had a Barnes & Noble card from Barclays and I closed it despite my advice above. I had enough older cards that I didn't really see a hit to my score, but there's always a chance my score would be higher with that card adding to the AAOA. At the end of the day it may more may not matter to your profile, but it's worth considering.

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How much does a few months of AAoA really matter, though, once a person has a few years of history? It's not like OP has just one or two other cards. OP's AAoA will be fine when the account eventually falls off.

It doesn't strike me as a case where the account is worth the effort to babysit.

[iced]

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@Anonymous wrote:
You don't have to close it; you could just let it age until Barclays closes it. For cards that don't have annual fees (which I think your Barclays card is one of them--if it does have an annual fee just close it when it comes due) I think it's worth considering to just leave the card open to prop up your AAOA. Check in every once in a while to ensure no fraudulent charges have been made to the card, but don't put any spend on it.

But, for what it's worth, I had a Barnes & Noble card from Barclays and I closed it despite my advice above. I had enough older cards that I didn't really see a hit to my score, but there's always a chance my score would be higher with that card adding to the AAOA. At the end of the day it may more may not matter to your profile, but it's worth considering.

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I agree. There's no need to run a charge through every card every month...or ever. If you don't use the card, then don't use the card. Cut it up, put it in a drawer, or whatever. If there's no AF, just let it age a while. If the bank tries to force your hand in any way, though I doubt they will, then close it.