Cancelled Credit Cards - Payment History Goes Down??

[AzaleaB]

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@takeshi74 wrote:

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@Anonymous wrote:

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true

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FYI that thread is linked in the Helpful Threads sticky in the Credit Cards subforum.  Don't overlook the stickies are resources.

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@Anonymous wrote:

It has an AF and you aren't getting any/enough benefit from it

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Whether or not to use AF as a criterion is up to the individual to determine despite how popular the approach seems to be here on myFICO.  Regardless of AF, I close cards that are of no use to me.  Each needs to decide based on his/her preferences and so on verus simply following the popular approach.  If one isn't willing or able to actively monitor a sock drawered account for fraud then one should consider closing it.

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+1 - Different schools of thought on this.  It really depends on the individual. AF or not, I also close cards that I don't want. I just don't like the SD clutter or maintenance. The only reason that I can think of for me to keep an unused CC is if it is important for my utilization and, so far, that's not the case. I just closed 3 cc's and looking to close a couple more.