Closing CC before home purchase question.

[duckster]

I'm looking to purchase a home around Nov of 14, but that is about the same time I will get hit with my AF on my Creditone card.  I never use the card, and have 3 cards of much higher quality, with higher limits that make this card useless.  I opened it in Nov of 13.  Will it hurt me to just close it out now?  Won't really effect my AAOA as it's a fairly new card.

Thanks for your advice.

[twall06]

Closed cards still factor in to AAoA. I would keep it open till the AF fee is due then close it but if you do not want to do that it will not hurt to close it now.

[StartingOver10]

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@duckster wrote:

I'm looking to purchase a home around Nov of 14, but that is about the same time I will get hit with my AF on my Creditone card.  I never use the card, and have 3 cards of much higher quality, with higher limits that make this card useless.  I opened it in Nov of 13.  Will it hurt me to just close it out now?  Won't really effect my AAOA as it's a fairly new card.

Thanks for your advice.

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If your utilization is low and you don't need the extra fee, then close it. I assume this is a very, very small percentage of your credit lines so it won't have a negative impact. It may have a postive impact depending upon the rest of your file   But once you close it, keep checking your credit report to make sure it is actually closed so an error doesn't pop up just before your home application.