Low Limit Credit Card

CostantinoA · ‎09-29-2016

I have a bloomingdales card that has $100.00 limit for over a year now. I refuse to use it as what can you really buy there for $100.00 I have called and requested CLI and no luck. My macys card with them is $1,700 so not sure why they have the Bloomingdales at $100.00

My question is, should I close it or leave it open? I have no used it in over a year. It is still open as of today.

Experian - 695 (4Y1M AA, 33 INQ)
Transunion - 686 (1Y5M AA, 30 INQ)
Equifax - 726 (3Y1M AA, 4 INQ)
Total Credit Lines: $99,387

surferchris · ‎09-29-2016

IMHO, my advice is to close it. You have done a great job in rebuilding your credit and in obtaining lots of new revolving credit. Hope this helps.

Current Cards:
AmEx Hilton Honors Surpass//AmEx Platinum Card//Ann Taylor Rewards Mastercard//Capital One Platinum Card//Credit One AmEx//Credit One Platinum VISA//Fingerhut//Navy More Rewards AmEx//TruWest Platinum VISA//Aspire VISA//Costco Anywhere VISA//Lowes Advantage//Apple Card
Loans:
1 Mortgage/////Navy FCU Auto Loan (2020 Jaguar I-Pace)//Capital One Auto (2016 BMW i3)
Next Cards (4th QTR 2022):
Navy Flagship Rewards VISA//Chase Sapphire Preferred
Stats:
Scores: 700's // Inq's: 1 for mortgage // Util: 1% // AoOA: 21 yrs

CostantinoA · ‎09-29-2016

The part that worries me is that it is one of my oldest cards. I do not want a score decrease. I wonder how that will hurt me.

Experian - 695 (4Y1M AA, 33 INQ)
Transunion - 686 (1Y5M AA, 30 INQ)
Equifax - 726 (3Y1M AA, 4 INQ)
Total Credit Lines: $99,387

FicoScore626 · ‎09-29-2016

Bloomingdales is so expensive that you'd probably max out the card if you ordered a pair of socks from there.

805orbust · ‎09-29-2016

No worries there. It'll stay on your report for another 10 years. Utilization won't count anymore but it'll still factor in your AAoA. I'd close it

Anonymous · ‎09-30-2016

@CostantinoA wrote:
The part that worries me is that it is one of my oldest cards. I do not want a score decrease. I wonder how that will hurt me.

How old? How old is the next oldest?

CostantinoA · ‎09-30-2016

I opened Bloomingdales on 07-14-15. I have 11 cards older though. They aren't charging me to keep it open. Is it hurting my score or no?

Experian - 695 (4Y1M AA, 33 INQ)
Transunion - 686 (1Y5M AA, 30 INQ)
Equifax - 726 (3Y1M AA, 4 INQ)
Total Credit Lines: $99,387

Anonymous · ‎09-30-2016

@CostantinoA wrote:
I opened Bloomingdales on 07-14-15. I have 11 cards older though. They aren't charging me to keep it open. Is it hurting my score or no?

Thats nothing. Practically NEW. Just toss it in a sock drawer and let them close it for lack of use.