Close BCE?

[Anonymous]

Hey everyone, I've been reading this for a while but never posted. I have the following cards:

Chase Freedom- $2,900
Citi DC- $5,500
WF Platinum- $5,000
Amex BCE- $11,900
Amex PRG- NPSL
Capital One Quicksilver- $10,000

I use the WF card for cell phone insurance, Freedom for the rotating categories, Quicksilver abroad, and the PRG for everything else (and the Citi DC wherever AMEX is not accepted).

I have no real use for the BCE and want to close it, but it is my largest credit limit and by far my oldest account (it is backdated to when I was an AU at 16 years old). The PRG is very new, and opened aftere AMEX stopped backdating. Do you guys think its worth it to keep the BCE open just for the large limit and age? Or should I close it?

[Aarvard]

Keep it. SD BCE and use it once every six months or so to keep the card active. Closing the card right now does not have any immediate effect on your score, but after it falls off your credit report, it will. And you may want to PC it into another card in the future if you want.

[Anonymous]

Never ever close your oldest account although it stays on your report for 10 years.  The BCE gives your AAoA a huge boost and it is also your highest tradeline padding utilization.  Leave it alone.  Use it once a year but don't close it.

[tallchick]

Sock drawer it, use it once a year for a small purchase and call it a day.  Just because you don't use it does not mean you should close it.  It is your biggest and longest reporting card and it will always help your AAoA, remember high limits usually beget high limits.

[Anonymous]

Pull it out for Small Business Saturday in November...its like a free $30.

[L-TWT]

IMHO, SD it

I have not used my BCE in more than 6 mos,

thank God for my AU (i.e, my brother), for the card would never get used

I set a spending limit so he does not go crazy

[Themanwhocan]

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@L-TWT wrote:

IMHO, SD it

I have not used my BCE in more than 6 mos,

thank God for my AU (i.e, my brother), for the card would never get used

I set a spending limit so he does not go crazy

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I don't use my BCE much, though I did purchase a $996 HDTV on it once.

My BCE credit limit has gone from $2000 -> $6000 -> $18000 -> Denied increase -> 3 mo later $23000 -> $30000. All requested increases via SP.

But then again, it is 23 months old now. The $30K won't actually show on my credit reports for another 7 days.

[Anonymous]

While I am usually very much in favor of closing unused cards, here I go with may as well keep it, unless it's too many cards to handle.  I would simply SD it, and not even put spending on it unless you do on Small Biz day or some good offer.   Major reason is that you might be able to PC it to something more useful one day