topic Re: Help? Should I keep or close? in Credit Cards

Help? Should I keep or close?

BobbyJ — Fri, 07 May 2010 20:46:02 GMT

Okay, since Macys is not reporting CLs anymore and I have a balance of $828 out of a 1000 available I am wondering if I should close my Orchard with a $400 limit and a $39 AF? Maybe I should keep it one more year to help overall utilization? Is is better to just close it anyway? I probably wont have Macys paid off until later this year. Any advice on this thought?

Thanks,

Re: Help? Should I keep or close?

ngerasimatos — Fri, 07 May 2010 20:53:53 GMT

Whats your AAoA?

Re: Help? Should I keep or close?

BobbyJ — Fri, 07 May 2010 20:59:32 GMT

My AAoA is 3 years....

Re: Help? Should I keep or close?

ngerasimatos — Fri, 07 May 2010 21:00:16 GMT

Dont close it then

Re: Help? Should I keep or close?

Anonymous — Sat, 08 May 2010 12:29:20 GMT

Unless you have a real need to increase your credit score in the next couple of months, I suggest, if Orchard will not waive the Annual Fee, CLOSE the account. The $400.00 credit limit will not hurt that much.

Besides, add the $39.00 to your payment to your Macy’s Card to lower utilization of that card.

Only time and good payment history will increase your score.