Closing Small Orchard/Ca
pital One Card -- Impact?
09-27-2012 01:44 PM
Hello MyFICO Gurus:
Will closing one of those crummy little Orchard Bank Cards with a limit of $400 or $500 have any impact whatsoever on my credit score. I only have two other cards, but they have significantly higher limits in the $5k range.
It's a horrible card -- they historically refused CL increases, charge $75 annually as a fee and only provide customer service as a vehicle to hard sell you credit insurance. That's why I want to close it.