Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
Re: Should I close these cards.....struggling to understand utilization...PLEASE help???

Missy_Bell wrote:



I am getting the feeling I need to close the Credit One account. I have paying that fee which actually doubled since I got the card two years ago. It went from $59/yr to $99/year plus min. $1 int per mth so I have no problem saying bye bye. 


I have several other cards which I did not mention as I don't owe balances on them. I have about $5000 avail credit lines and only owe $1516 to Navy Fed. 


What about closing the secured NFCU account and applying that $500 to the balance owed on the larger account. Shoul I do that or not??


You have done well,   Definitely close the Credit One, way too expensive.   The secured card has served it purpose well, time to close it and pay off the other balance.


This will not hurt your score, might help a little, as your utilization should be better.