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Closing Credit Cards

MarineVietVet
Moderator Emeritus

Re: Closing Credit Cards


@Cory wrote:

Hello,

 

I didn't want to start a new thread, so I will post here. I am about to close some credit card accounts. Closing credit card accounts only limits your available credit at the credit bureaus, and not the AAOA's? (aka: History) right? The only concerns I should have is if I have balances on the cards that I will keep open, that will lower my available credit thus lowering my credit score right? The cards will still report for ten years right? The dates for the cards I'm closing are two opened in 2007, and one opened in 2011.

 

I want to close three cards, and only use my JC Penney, Citi, AMEX, Penfed and Bank of America cards. I would close the JC Penney's card, but that card is my oldest account opened in 1999. I am afraid to close that card. What do you think?

Cory


Hi Cory.

 

Have you read this thread about Closing Credit Cards? I believe it addresses most if not all of your questions.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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