Posts: 9,731
Registered: ‎12-30-2011
Re: Too many cards - which one to close?

KingAdrock wrote:

Wait, let me get this straight: everyone is talking about whether or not to close a card because you don't want to use and maintain it, because if you don't use and maintain the card they'll close it?


Am I the only one who thinks closing your card so they don't close your card... is completely absurd? :smileyfrustrated:

I still use my cards that I don't have a use for once a month to just keep the tradeline open.  Realistically I could probably do once every three months and still be just fine.


If I were going to never use a card again, I'd close it immediately.  It doesn't matter for FICO and *probably* doesn't for underwriting, but I try to minimize "account closed by credit grantor" on my reports though occasionally this is unavoidable vis a vis lost/stolen cards.


My posts regarding keeping a tradeline open presumes you take some time to keep the account from being flagged for inactivity, though admittedly this won't entirely prevent the possibility of a lender closing your account, but it definitely minimizes it.  I think it more likely there'd be a CLD for any AA that a lender took against an absurdly underutilized card rather than an account closure.

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)
Goal Score: 700 on EQ '04 (01/01/15)

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