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Regular Contributor
BOSScredit
Posts: 124
Registered: ‎11-29-2013

So,closing a card is really not bad?

IF you paid off a card completely, then closing a card isn't really that bad right? Assuming you keep a low utilization at all times, then the decrease in total credit limit wont really effect you, and if you have 5 accounts that are 10 years old, closing one of them won't do too much hurt, right?

 

Do companies frown upon seeing a lot of closed cards?

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: So,closing a card is really not bad?

Closing a card with a 0 balance will not hurt you.  It will still factor into your AAoA for up to 10 years.

 

I wouldn't close one unless there was an AF involved. 

Valued Contributor
gdale6
Posts: 8,708
Registered: ‎12-13-2013

Re: So,closing a card is really not bad?


guiness56 wrote:

Closing a card with a 0 balance will not hurt you.  It will still factor into your AAoA for up to 10 years.

 

I wouldn't close one unless there was an AF involved. 


+1

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