What do i do with these store cards?

[FinStar]

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@Gunnar419 wrote:

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@longtimelurker wrote:

There are two main opinions on the topic "Do I keep cards (with no AF) that aren't obviously useful to me?" whether they are store or credit cards.  The first view,probably the more popular here, is:

1) If they do no harm (AF usually) no reason to close.  Keep them as they help AAoA and utilization.

This then splits into 2 ways of maintaining them:

          a) Put small charges on them periodically to keep them open

          b) SD them and if they close, they close

The other view (mine):

2) If they have no use, may as well close them.  AAoA is covered for 10 years or so, and utilization can be controlled anyway unless you are carrying a balance (in which case that is the problem you should focus on!).  Keeping cards slightly increases the chance of fraud, identity theft etc, and doing 1a is work and removes charges from better rewards cards.

But as I have said several times recently, both options have very small advantages and disadvantages, it doesn't really matter so personal preference.

There is no evidence about your chief worry, that store cards prevent getting credit cards.

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+1 In addition to what longtimelurker said, sometimes keeping those old cards around can just be psychologically annoying. If you feel a need to "clean out your credit card closets," then clean them out. Close them and be done with them.

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+2

Once they no longer provide a benefit, then it's only sesnsible to close them

[chwebb1]

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@FinStar wrote:

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@Gunnar419 wrote:

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@longtimelurker wrote:

There are two main opinions on the topic "Do I keep cards (with no AF) that aren't obviously useful to me?" whether they are store or credit cards.  The first view,probably the more popular here, is:

1) If they do no harm (AF usually) no reason to close.  Keep them as they help AAoA and utilization.

This then splits into 2 ways of maintaining them:

          a) Put small charges on them periodically to keep them open

          b) SD them and if they close, they close

The other view (mine):

2) If they have no use, may as well close them.  AAoA is covered for 10 years or so, and utilization can be controlled anyway unless you are carrying a balance (in which case that is the problem you should focus on!).  Keeping cards slightly increases the chance of fraud, identity theft etc, and doing 1a is work and removes charges from better rewards cards.

But as I have said several times recently, both options have very small advantages and disadvantages, it doesn't really matter so personal preference.

There is no evidence about your chief worry, that store cards prevent getting credit cards.

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+1 In addition to what longtimelurker said, sometimes keeping those old cards around can just be psychologically annoying. If you feel a need to "clean out your credit card closets," then clean them out. Close them and be done with them.

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+2

Once they no longer provide a benefit, then it's only sesnsible to close them

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+3: I completely agree. I closed 3 credit cards last year that didn't meet my expectations, two with low credit lines (one with a high APR also), and another with an APR they wouldn't negotiate on. Two also had bad customer service. I was happy to "clean house" and move on to the cards I like or love.

[quarius]

I think I have the questions im looking for and I'm leaning more towards just closing them out if they serve no purpose. I just added a good amount of credit which i don't think I would get even close on util. Thanks I will close them out and feel better about it, before I found this forum and how to deal with my credit properly these cards were maxed out and I was paying over 25% interest on these cards. 

[Changingmantra]

@longtimelurker wrote:

The other view (mine):

2) If they have no use, may as well close them.  AAoA is covered for 10 years or so, and utilization can be controlled anyway unless you are carrying a balance (in which case that is the problem you should focus on!).  Keeping cards slightly increases the chance of fraud, identity theft etc, and doing 1a is work and removes charges from better rewards cards.

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 I absolutely agree with this longtimelurker!  - Also- you are moving forward - you have already said that you do not even like to look at the cards - you have bad memories of them.  I look at this whole question of to close or not to close - as part of the whole issue of finally ridding one's life of those things that no longer serve them - people - emotions - credit cards.   I am in the same boat about the 5 store cards I have - and I actually LIKE my cards and have good experiences with them - I am not so sure I NEED them - and I do not want to be bothered with managing so many accounts -