cancel
Showing results for 
Search instead for 
Did you mean: 

Bank's view of closing a card

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Highlighted
Established Member

Bank's view of closing a card

Do banks look down on you if you close a credit card with them?

I'm looking at applying for the Altitude Reserve in the near future. I currently have 2 cards with US Bank, the Cash+ and the platinum, and the current credit limits equal about 1/3 if my income. I was thinking of closing the platinum to "free up" some credit that US Bank may offer me. But would closing a card with them have a negative affect on a future application?
Message 1 of 18
17 REPLIES 17
Regular Contributor

Re: Bank's view of closing a card

Don’t close it. You can probably close the card after the fact and merge that credit line. Not sure, but don’t close it. I would be more concerned with your eligibility to get the AR first and foremost.
Stop trying to save a nickel; start trying to earn a dollar.
Message 2 of 18
Super Contributor

Re: Bank's view of closing a card

You ask a good question. I closed two credit cards with the First National Bank of Omaha as they were out of it for rewards. Years later they had a special for two months and I wanted to apply so I called them and asked that question ... they said not a problem and approved me. As to US Bank they do look at your income and DTI along with the computer. In my case they were concerned as I had credit higher than my annual income so they allowed for reallocation of credit to get me where I wanted to go.
Starting Score: 000 Fico
Current Score: 850 Fico EX08EQ08TU08
Goal Score: 850


Take the myFICO Fitness Challenge
Message 3 of 18
Valued Contributor

Re: Bank's view of closing a card

I don't know this for a fact, but I've never had a problem getting a card from a bank that I've closed a card from before. I think these days it's normal for your average consumer to open and close cards all the time. As long as they don't presume any fraud or churning, you'll be good.


Message 4 of 18
Valued Contributor

Re: Bank's view of closing a card

No I don’t think banks will “hold a grudge” lol. I’ve opened and closed 3 Cap One cards and was still given another. 

Amex BCE: 18k
Discover It: 17.2k
Citi DC: 4.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 5 of 18
Valued Contributor

Re: Bank's view of closing a card

Amex does. 



Scores 1/2019:
Scores 4/2019:

Hover over my cards to see my limits!
Goal: Garden... and garden... and garden.
Message 6 of 18
Super Contributor

Re: Bank's view of closing a card


@Saeren wrote:

Amex does. 


In what way?

Message 7 of 18
Valued Contributor

Re: Bank's view of closing a card


@BrutalBodyShots wrote:

@Saeren wrote:

Amex does. 


In what way?


I canceled my BCE last year before even getting it (long story) and I don’t prequalify for any of their cards now and was shot down for the BCE in January and that was after getting the no SUB pop up to boot. I’m in their system as a churner when I never even used the card. 



Scores 1/2019:
Scores 4/2019:

Hover over my cards to see my limits!
Goal: Garden... and garden... and garden.
Message 8 of 18
Regular Contributor

Re: Bank's view of closing a card

"churner"

that was my thought exactly about Amex.

Message 9 of 18
Community Leader
Super Contributor

Re: Bank's view of closing a card


@Saeren wrote:

@BrutalBodyShots wrote:

@Saeren wrote:

Amex does. 


In what way?


I canceled my BCE last year before even getting it (long story) and I don’t prequalify for any of their cards now and was shot down for the BCE in January and that was after getting the no SUB pop up to boot. I’m in their system as a churner when I never even used the card. 


 

You're not in their system as a "churner". You did not even get the SUB, hence no churning. 

 

If I had to guess, Amex computer went something like " This joke wont be on me"

EX 754 (hater) EQ 766 (no inq) TU 759 (semi-hater)
Message 10 of 18