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Close Kohls Card?

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Anonymous
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Close Kohls Card?

I recently read someone post about closing they're kohls card. I was considering doing the same because mine have been at a 300 limit for almost two years now. I was considering closing them because I don't use the card and I was just approved for a Gap card which I know I will use and my Credit Union MCU approved me for my first visa credit card YAY. Is it wise to close it or should I keep it open, continue not to use it and let kohls close it themselves?

Message 1 of 10
9 REPLIES 9
Anonymous
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Re: Close Kohls Card?

I think that depends on the rest of your credit profile.

Message 2 of 10
Anonymous
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Re: Close Kohls Card?

If this card makes 3 cards then leave it open for now. If you have 3 cards besides this one then you can close it if you wish
Message 3 of 10
Anonymous
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Re: Close Kohls Card?


@Anonymous wrote:
If this card makes 3 cards then leave it open for now. If you have 3 cards besides this one then you can close it if you wish

I have two cap one quicksilver cards, a discover secured, a cap one secured, credit one (i want to close so bad but it was my first rebuilder card so im going to let them close it), a fingerhut account, VS, gap,  and now my credit union approved me for a credit card so I dont think it will hurt much if I close this card. 

Message 4 of 10
Anonymous
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Re: Close Kohls Card?


@karladicent wrote:

@Anonymous wrote:
If this card makes 3 cards then leave it open for now. If you have 3 cards besides this one then you can close it if you wish

I have two cap one quicksilver cards, a discover secured, a cap one secured, credit one (i want to close so bad but it was my first rebuilder card so im going to let them close it), a fingerhut account, VS, gap,  and now my credit union approved me for a credit card so I dont think it will hurt much if I close this card. 


Close this. It's costing you money and will do you better sitting on your reports as a closed positive tradeline. It will remain there for 10 years.

 

I think you'll be fine closing Kohl's. You have plenty of open cards and I'm assuming you're not carrying large balances on any of the cards?

Message 5 of 10
Anonymous
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Re: Close Kohls Card?


@Anonymous wrote:

@karladicent wrote:

@Anonymous wrote:
If this card makes 3 cards then leave it open for now. If you have 3 cards besides this one then you can close it if you wish

I have two cap one quicksilver cards, a discover secured, a cap one secured, credit one (i want to close so bad but it was my first rebuilder card so im going to let them close it), a fingerhut account, VS, gap,  and now my credit union approved me for a credit card so I dont think it will hurt much if I close this card. 


Close this. It's costing you money and will do you better sitting on your reports as a closed positive tradeline. It will remain there for 10 years.

 

I think you'll be fine closing Kohl's. You have plenty of open cards and I'm assuming you're not carrying large balances on any of the cards?


You are right about the credit one bank card, the interest is OUT OF CONTROL, it is absolutely ridiculous. Two card have high balances and they will be paid this month, both of them which are my quicksilver cards. They are both at around 98% utilization Bringing them both down to 75% this thursday and in two weeks bringing them down to zer utilization...Thanks for the tip on Credit One its just that i only have a 2 year AAOA and its because of that card so I thought if I closed it my score will drop tremendously 

Message 6 of 10
Anonymous
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Re: Close Kohls Card?


@karladicent wrote:

@Anonymous wrote:

@karladicent wrote:

@Anonymous wrote:
If this card makes 3 cards then leave it open for now. If you have 3 cards besides this one then you can close it if you wish

I have two cap one quicksilver cards, a discover secured, a cap one secured, credit one (i want to close so bad but it was my first rebuilder card so im going to let them close it), a fingerhut account, VS, gap,  and now my credit union approved me for a credit card so I dont think it will hurt much if I close this card. 


Close this. It's costing you money and will do you better sitting on your reports as a closed positive tradeline. It will remain there for 10 years.

 

I think you'll be fine closing Kohl's. You have plenty of open cards and I'm assuming you're not carrying large balances on any of the cards?


You are right about the credit one bank card, the interest is OUT OF CONTROL, it is absolutely ridiculous. Two card have high balances and they will be paid this month, both of them which are my quicksilver cards. They are both at around 98% utilization Bringing them both down to 75% this thursday and in two weeks bringing them down to zer utilization...Thanks for the tip on Credit One its just that i only have a 2 year AAOA and its because of that card so I thought if I closed it my score will drop tremendously 


Nope! It will have no affect on your AAoA for another 10 years, and by then the others will be close enough. As long as you get your util in check (I would do the 1 card 9% rule, rest 0 for the best score). I put my 9% on my highest CL card and let the others report with 0.

 

I also never spend on my cards what I don't have, unless the previous pay period has already closed and I know that even if I randomly lost my job tomorrow, I could still pay all my cards to 0 before the statement cuts.

Message 7 of 10
Anonymous
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Re: Close Kohls Card?

Please close the credit one! So not worth the fees every month. Also, since you have two Cap One qS cards why not combine the two and have a card with a higher limit once you paid them off.
Message 8 of 10
Anonymous
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Re: Close Kohls Card?


@Anonymous wrote:
Please close the credit one! So not worth the fees every month. Also, since you have two Cap One qS cards why not combine the two and have a card with a higher limit once you paid them off.

Thats the plan for next month. Thank you 

Message 9 of 10
Anonymous
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Re: Close Kohls Card?

Thanks for Credit One advice. Will be closing soon. 

Message 10 of 10
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