topic Re: Close secured card? in Credit Cards

Close secured card?

Anonymous — Thu, 13 Aug 2015 16:24:32 GMT

I started rebuilding last May. I no longer use this card. It's only a $250 card. This card does not unsecure, and it also has a annual fee every June. I could keep it until next spring and close it then. I don't really need the $250. I am just curious on how closing accounts effect my credit. I want to close it so it's one less card to worry about.

Re: Close secured card?

morgacj2004 — Thu, 13 Aug 2015 17:59:27 GMT

I would close it if you have another unsecured card to use. There is no point cont to pay an AF and a $250 CL is not worth it. The acct is not very old so closing it is not likely to affect your score very much.

Re: Close secured card?

Anonymous — Thu, 13 Aug 2015 19:01:32 GMT

@Anonymous wrote:
I started rebuilding last May. I no longer use this card. It's only a $250 card. This card does not unsecure, and it also has a annual fee every June. I could keep it until next spring and close it then. I don't really need the $250. I am just curious on how closing accounts effect my credit. I want to close it so it's one less card to worry about.

Close it. A card with a $250 limit won't affect you much. It will still report for the next 10 years anyway. Close it.