Re: Too many cards - which one to close?
01-17-2013 11:27 AM
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?
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 672, Wally TU 682, EX 680ish (1/12/14)
Goal Score: 700 in all three (01/01/15)
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