Closing Credit Cards

[lessonslearned]

I have two credit cards with a combined total availabe credit of $350.00. I was recently approved for a $400 Chevron/Texaco card and a Discover IT. Would it be ok to close the two smaller cards or will that hurt my score? My util will even out. Both cards were opened 08/2013 and have reported positively since then.

[gdale6]

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@lessonslearned wrote:

I have two credit cards with a combined total availabe credit of $350.00. I was recently approved for a $400 Chevron/Texaco card and a Discover IT. Would it be ok to close the two smaller cards or will that hurt my score? My util will even out. Both cards were opened 08/2013 and have reported positively since then.

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You need 3 bankcards and 1 store card at minimum to help drive your Fico. Why do you want to close them Secured or have AF??

[Anonymous]

Keep them open for now. As your scores build you may want to get a couple more 'upper tier' bank cards that have no annual fees, and then close your "starter cards" if they have annual fees.

[lessonslearned]

Well embarrassingly enough, I went on an app spree and applied for a bunch of store cards. These two are my lowest limits. I have twelve cards total and that just seems excessive.

[gdale6]

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@lessonslearned wrote:

Well embarrassingly enough, I went on an app spree and applied for a bunch of store cards. These two are my lowest limits. I have twelve cards total and that just seems excessive.

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Oh well, in this case then if you are not going to use them then by all means jettison them.