CLOSING CARDS

[Anonymous]

I am thinking about closing these cards now.

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cortrust

legacy

continental finance

rewards 660

total visa

orchard bank

They charge me monthly or annual fee or both.

Any thoughts?

[Anonymous]

close em as long as uti is under 30%

[Anonymous]

Not the card King!!!

[Anonymous]

If you have cards now with no AF or MF, then I would think you would want to get rid of those that are charging you.  But then you also have to consider your FICO score will take a hit.  Then you will free up a lot of money with that many cards with fees on them.  Maybe start closing one or two at a time, or close them all at once and let the FICO bottom out then start rebuilding it. Not really sure the best advice just some options.  We still have my hubbys WaMu card org. prov. with annual fee I should close it.  But long history on it, by no means not the oldest account.   Realize now we should never had had to pay an AF.  Tks Vicki

[Anonymous]

Should I close one every month or should I close all these at the sametime?

[Anonymous]

did u try to call them to remove the AF?

[Anonymous]

ASH, these cards are the bottom of the subprime barrel.  With al lyour new credit you have no need for them and the low limits are polluting your credit file.  Close them all at onceor in a round it won't matter once your new cards start reporting and fewer cardswill probably raise your score.

[Anonymous]

Yes I have.  They told me the AF hasnt posted yet this year. I'm like I know that but I wanted a no AF card.  But dont think I will have luck with them on that. 

Depends, close them all like another poster said if it doesnt hurt your util. 

Or one by one as you can.  Def you will have the money from the fees. How much is that 50.00 a mth all together? If you will still have good util it shouldnt hurt your FICO I dont think.  Tks Vicki

[Anonymous]

Thanks Brammy. You are right. I am worried about orchard bank that is my

oldest card but I hate their customer service. can you believe it I have that

card for over 2 years and the limit is 400.

[Anonymous]

Ifyour history is good it willremain on your report for ten years minimum so you won't lose the history.  By the time you do it probably wont make a difference