I have 2 Emblem credit cards that were part of a rebuilding program from old FP accounts. One has a $300 limit and the other a $275 limit. When I got the cards I was under the impression that they would never do CLI. I basically got them as a rebuilder. One is about a year and a half and the other is about 6 months old. I really have no need for them and honestly I can't remember if they charge an annual fee or not but I know the interest rate is crazy. Like I said I got them to work on rebuilding. I am thinking of paying them off and closing them out and wanted opinions. I have other credit cards and don't need them but I don't want to hurt myself in the process. My overall AAoA is about 7 years.
What other cards do you have? What limits?
*8/10/13
My other cards for revolving:'
Capital One - $500
Merrick - $550
Orchard - $500
Macy's - $300 (not reporting yet but $0)
Target - $200 (not reporting yet but $0)
J Crew - $250 (not reporting yet but $0)
Then the 2 Emblem cards.
My plan was to pay them off first then close them. I am working on getting my overall uti down so if I am going to close them I was going to make the larger payments to those cards first.
@guiness56 wrote:If you have other revolving and don't need them, close them. They will still factor into your AAoA. Your overall CL will be decreased by those amounts so make sure they are paid off first.
If they don';t have an AF you could leave them open and just not use them also.
Either way your score should not be impacted if they are paid off.
+1