01-08-2013 06:08 AM - edited 01-08-2013 06:31 AM
I have a card that I got in the beginning of my credit rebuild and I really regret it. I got excited at the preapproved button and hit it and have only ordered something from them once. I have some really nice cards now that I prefer to use. So, will it look bad if I close it now? I don't want them to close it for non-use so should I go ahead and close it or should I find some little something to buy from them and wait til it's been opened a year? (I opened it in Sept. 2012)
01-08-2013 06:30 AM
I'm not opposed to keeping it open. I just will not have much use for the card and I don't want them to close it because it will show that the creditor closed the account. I just feel like that would look bad.
01-08-2013 06:44 AM
Is it a store card? Usually they'll let accounts stay open without activity for quite awhile before closing. If you're really concerned, I'd suggest making a very small purchase and then closing when the account turns a year.
01-08-2013 09:10 AM
I close cards whenver I determine that I will not use them anymore.
I have opened and closed about 15 accounts in the last 5 years. I've closed about 5 of those cards within 60 days of oppening the account (usually do to the "why did I even apply for this card again?")
My scores are still in the mid 700s
In fact, I'm about to close or combine 3 cards, which will bring me down to only 4 open lines.
I close cards because of the hassle of having cards I will never use. It makes my life easier.
01-08-2013 09:19 AM
01-08-2013 10:54 AM
I have a difficult time closing cards because I know that limits can grow and terms can improve with history....
but I reallllyyy wanna close my Chevron account...
I've closed maybe five accounts in five years! lol
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO