12-25-2008 08:41 AM
12-25-2008 08:51 AM
Until the others who are more experienced chime in, the link below may help answer some of your questions.
12-25-2008 08:51 AM - edited 12-25-2008 08:52 AM
Hi tesnomom, welcome to the forums and happy holidays!
Fused wrote an excellent thread stickied at the top of the forum on closing credit cards. It sounds like a great place to start.
ETA: Sidewinder beat me to it!
12-25-2008 09:16 AM
12-25-2008 03:07 PM
12-26-2008 05:27 AM
12-26-2008 08:29 AM
I think you should do whatever makes you feel better for peace of mind, however as a suggestion, instead of closing the cards if you're concerned about them being stolen, why don't you just leave them at home?
I have 15 open credit cards and while I wish I had less accounts as that would make it easier for me to ensure they don't go inactive I don't want to close any of them outright.
When I go out, whether it's for work or shopping, I usually only take my debit card and whatever credit card has caught my attention for the month. Right now it's Cap 1 because of the nice CLI they gave me earlier this month. But if I know I'm going to be shopping at Best Buy, I'll grab my BB CC, or if I know that I need to make a purchase with my HSBC card to prevent closing from inactivity I'll grab that one.
I think I have only taken every single card with me once, and that was when I was Christmas Shopping this year where I used every card, but one, to help keep them active.
The majority of the time, all of those credit cards I know I won't be using stay at home. Now if my house ever gets robbed, that could be a problem, however if my wallet gets stolen, which I think is much more likely, I'll have only the debit card and the one credit card in it to worry about.
Additionally, not taking those cards also helps me to not spend money I don't have.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.