Hello all. I'm wondering if anyone can help me figure out whether closing one of my credit cards will be detrimental to my score or not. Here are some deets:
Right at the moment, credit karma is reporting my credit card limit at $2,250 - util. at 81% ($1,828). I just made 2 payments yesterday, which will bring it down to approx. $1,720 after interest is taken out. Got a $400 automatic CLI on my Victoria's Secret the day I made my payment, and just got approved for a Barclay's MC today with a $900 CL, so total CC limit will be $3,550 which will now leave my current util. at around 49% or so (I think - I'm horrible at math) once everything is updated.
My cards and balances right now are:
Amazon Store card - balance - $648 / $800 CL
VS card - balance - $713 / $1,300 CL
Barclays - balance - $0 / $900 CL
USAA Secured AMEX - balance - $242 / $350CL
Gap Store card - balance $0 / $200 CL
My question is - will it really hurt to close my Gap store card? They won't give me an increase, which is really annoying, and for that reason, I don't plan to use it ever again, It's a fairly new account, it was just opened it Sept. of last year, so with that and my total CC limit going up due to recent events, will it really make a difference if it's gone?
