Close Comenity Store Cards or Keep?

[kittycreditmeow]

I have two store cards from Comenity for Overstock and Carter's that I just paid off. I kind of want to close them because I don't think I will use them again. They are $500 each credit line. They are not my oldest cards but I'm not sure if closing them will affect anything on my report as far as utilization and all that goes. I don't have much available in credit, I think just under $6000 across all my cards. 

[RSX]

Close them both

then you can focus your spend on less cards and possibly get CLIs from the ones you have left. 

[pizzadude]

Before you decide, compare your revolving utilization now and without these cards in terms of both % and number of accounts with balances.  

if either of these changes significantly it will have a negative impact on your FICO score. 

[Reithe]

If I'm not mistaken, your credit score would temporarily decrease if you closed your store cards (decrease in AAoA and increase in utilization). Closing them wouldn't be such a bad idea, but you could always sock drawer them and put a small charge on them every now and then just to keep them active. 

[pinkandgrey]

I would be of the mind to close them both. If you won't use them, there's no reason to keep them. Their small credit lines probably aren't doing that much for your utilization anyway. (To be fair, I would close them even if they were important for utilization lol) 

[Trini88]

Close them. I feel your pain, I would 100% close my Target card if I didn't shop there all the time and it didn't give me 5% off 🤣

[Anonymous]

I would sock drawer them until closing them won't kill nearly 10% of your credit limit.

[OmarGB9]

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@Reithe wrote:

If I'm not mistaken, your credit score would temporarily decrease if you closed your store cards (decrease in AAoA and increase in utilization). Closing them wouldn't be such a bad idea, but you could always sock drawer them and put a small charge on them every now and then just to keep them active. 

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Bolded part isn't true. Closed cards in good standing still factor into AAoA for up to 10 years. But utilization could potentially be an issue, depending on where overall number of cards with a balance and overall utilization is at.

[MarkintheHV]

I just closed a $35k CL Lowes card that was my second oldest card, and my FICO only dropped 2 points.  YMMV

[kittycreditmeow]

@Trini88 

My target card is the one store card I want to keep. The target MasterCard is a goal card of mine so I hope one day to be promoted to the MasterCard.