topic Re: Closing Question in Credit Cards

Closing Question

writerstale — Tue, 01 Dec 2015 17:43:53 GMT

I have a Barclay Rewards card that I've had for 18 months. Honestly not excited about this card, or the customer service that I receive from this company at times. What I am trying to know is is it best for my credit score to cancel this card ASAP, or wait a while before canceling this credit card?

Re: Closing Question

etstrong98 — Tue, 01 Dec 2015 19:04:53 GMT

If the card doesnt have an AF then I would put it in the SD let it age atleast to the 2 year mark before closing.

Re: Closing Question

writerstale — Tue, 01 Dec 2015 20:26:38 GMT

What do you mean when you say, "If the card doesnt have an AF then I would put it in the SD?"

Re: Closing Question

Anonymous — Tue, 01 Dec 2015 20:28:57 GMT

AF = annual fee (it doesn't have one)
SD = sock drawer (take it out of your wallet and forget about it)

also you can PC it (product change) to something useful to you.

Re: Closing Question

SunriseEarth — Tue, 01 Dec 2015 20:33:09 GMT

@writerstale wrote:
What do you mean when you say, "If the card doesnt have an AF then I would put it in the SD?"

We use a lot of abbreviations around here. Here's a primer: http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458

Re: Closing Question

writerstale — Tue, 01 Dec 2015 20:48:52 GMT

I greatlly appreciate the clarity everyone. Thanks!