topic Re: cancel CC ?? in Credit Cards

cancel CC ??

Anonymous — Tue, 24 May 2011 18:19:49 GMT

should i cancel few store credit cards like Target,Victoria secret,Macys, Firestone. I will still keep my main CC like BoA,Discover,HSBC,Crapital One. My oldest card is Capital one opened about 6 years ago then , Target wich is paid in full never late payments.

Re: cancel CC ??

Anonymous — Tue, 24 May 2011 18:49:23 GMT

If there aren't any fees to keep those accounts open, cristianro, it doesn't hurt to leave 'em open.

But if it's just a pain to keep track of them, eh, then close what you will. They'll still report for a few years.

Just my opinion.

Re: cancel CC ??

smc733 — Tue, 24 May 2011 19:52:11 GMT

I personally would close some of them, especially ones you won't use. Though it has no effect on FICO, on manual review, many open, low limit store cards doesn't look so hot compared to a nice tame assortment of high limit retail cards.

Re: cancel CC ??

Anonymous — Tue, 24 May 2011 20:57:53 GMT

In addition to the opinions that you've gotten already, if you haven't had a chance, you should read Fused's Closing Credit Cards . Lots of good information in there!