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cancel CC ??

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Anonymous
Not applicable

cancel CC ??

should i cancel few store credit cards like Target,Victoria secret,Macys, Firestone. I will still keep my main CC like BoA,Discover,HSBC,Crapital One. My oldest card is Capital one opened about 6 years ago then , Target wich is paid in full never late payments.

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Uborrow-Upay
Valued Contributor

Re: cancel CC ??

If there aren't any fees to keep those accounts open, cristianro, it doesn't hurt to leave 'em open.

 

But if it's just a pain to keep track of them, eh, then close what you will.  They'll still report for a few years.

 

Just my opinion.  Smiley Happy

 

 

Message 2 of 4
smc733
Valued Contributor

Re: cancel CC ??

I personally would close some of them, especially ones you won't use.  Though it has no effect on FICO, on manual review, many open, low limit store cards doesn't look so hot compared to a nice tame assortment of high limit retail cards.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 3 of 4
Anonymous
Not applicable

Re: cancel CC ??

In addition to the opinions that you've gotten already, if you haven't had a chance, you should read Fused's Closing Credit Cards . Lots of good information in there!  Smiley Happy

 

 

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