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Closing Credit Card Accounts

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jzamarripa3220
New Contributor

Closing Credit Card Accounts

Goodmorning yall,
I'm strongly considering closings a few cards. I currently have 10 cc, four of which are store cards, for a grand total of 24k in combined cl. My income is roughly at 24k as well. So I'm planning on doing an app spree in the next couple of months, preferably two weeks before my birth day, which is on April 1st. Mostly I just want clis on my current cards. I guess my question to you guys and gals is, should I close the cards that I have zero use for in order to make room for cards that I would use? My main concern is that my combined cl is too close to my income which might inhibit future approvals for myself, and I feel like if I close some card that I'll get some leeway with other lenders. Recently discover denied me a cli without a hp but Macy's gave me one with only a sp.
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2 REPLIES 2
TRC_WA
Senior Contributor

Re: Closing Credit Card Accounts

I close cards that are no longer useful.

 

I closed a $650 Chevron and $650 76 gas card as well as a $900 Walmart card and $2200 Barclays Apple in December when I got a $4500 +$2200 from Apple card = $6700 Sallie Mae.

 

None of the 4 cards would ever see the light of day again... so why keep them?

FICO8 current as of : 2-1-26 EQ: 713 TU: 702 EX: 705
Hard INQs last 12 months: EQ: 1 | TU: 2 | EX: 1
Verizon Visa $8500 Amex Delta Gold $10,000 Care Credit $18,000
NFCU CashRewards $13,500 Apple Card $7000 Best Buy $8000 Amazon $5000
STCU auto loan (2026 Hyundai Palisade Hybrid) 6.24%
HDFS motorcycle loan (2024 Harley Davidson Road Glide) 9.45%
Total CL: $70,000 --- Total CC UTI: 31% --- AAoA: 6.5 years --- Income: $257k
Last app: 1-31-26
Message 2 of 3
boosnark
Contributor

Re: Closing Credit Card Accounts

I've never been a fan of store cards, since I tend to shop at many different places so I would be inclined to get rid of them. General rewards cards such as the CSP or Barclays Arrival work better for me.

Gardening until November 1, 2023
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