Moderator
Revelate
Posts: 9,731
Registered: ‎12-30-2011
Re: Should I close a credit card I just opened?
[ Edited ]

What everyone else has said.

 

Don't simply close the card; even if they won't PC you (unlikely they wouldn't) there are ways to generate a high balance temporarily on a flexible spending account of any type which can serve as the limit when it comes to FICO calculations.  BOFA at least takes the highest daily balance (may be up to the minute even) so there's no need to even let that balance report if you're worried about a near-term application.

 

If you simply close it, there's a non-zero chance that it'll be reported anyway to the bureaus... and then it's a blemish for every other underwriting department in the next 10 years to look at.  Banks are sorta collusive in some respects (burn one and you burn all of them), and this I suspect falls into this category.  Also if it's the non-Preferred version there's no AF anyway so it won't hurt you to keep it open for call it a year and then close it if you decide you don't want the card at all.

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
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