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Had 2 Credit cards with them, Slate $250 limit and Wamu converted $300 limit. No rewards, but no AF's, 27.24% on the Slate and 18.24% on the Wamu. Just got approved $5K Freedom and $6,200 CSP. I don't really want the old cards anymore, but thinking cards I've had since 2006, 2007 with Chase might have helped me get the approvals in the first place.
Is there any harm in closing these? Better to keep open? I hate seeing 4 cards (plus my checking and savings) listed down when I log in to online banking. I will never use these when I have 2 high limit cards with rewards AND lower rates.
If they have no AF then I would just sock drawer them. Closing them will not affect your AAoA since they stay on for 10 years, but there really is no point in closing if you aren't losing anything. The only scenario I could see is if you wanted more chase cards and you were at your max.
This is the normal difference of viewpoint:
1) keep them if they do no harm (e.g. AF)
vs
2) close them if they do no good.
I'm on the latter side, no need to clutter your portfolio with low CL high APR cards you will never use, but the other view has some merit (it is merely wrong!)
@KennyS2006 wrote:
Might as well keep, SD them, and then one day when you have no HPs and can spare one why not use it on one of them one day to get that limit higher and whenever you do close it you just transfer the CL?
OP is talking about $250 and $300 CLs and has just got approved with two $5K+ cards. So even if the $250 got a x10 CLI one day, it still wouldn't really matter.
To me, some things are worth letting go! Would you keep a card with a $1 CL?
See if they can be converted to freedom card
like others said if it has no AF then SD it and make tiny purchases every now and then
closing it or keeping it open is basically up to your decision *also note if you close your card it will show good standing up to 10 years on your credit report and by then all other cards that's already opened will be 10 years older*
Looks like most people have come to the same conclusion. Still, OP needs to do what they think is best for them.
@azguy13 wrote:Looks like most people have come to the same conclusion. Still, OP needs to do what they think is best for them.
STAND DOWN MY FRIEND, i said it first *closing or keeping it open is up to your decision*
and don't buy that Infinity