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Closing New Card, Good or Bad?

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Valued Contributor

Closing New Card, Good or Bad?

I opened two store or gas credit cards (like Citi Wawa credit card) this year. But I do not use them any longer. I just do not know if closing them down is good or bad for the credit score. No starting bonus to talk about. The cards just become redundant. There is not much impact to the average age of my cards.

 

I just do not want the creditors to see this as negative and I'm a churner. I received nothing to open the cards.

Message 1 of 6
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Valued Contributor

Re: Closing New Card, Good or Bad?


@BronzeTrader wrote:

I opened two store or gas credit cards (like Citi Wawa credit card) this year. But I do not use them any longer. I just do not know if closing them down is good or bad for the credit score. No starting bonus to talk about. The cards just become redundant. There is not much impact to the average age of my cards.

 

I just do not want the creditors to see this as negative and I'm a churner. I received nothing to open the cards.


As long as it doesn't affect utilization, I doesn't matter IMO. I have done it a couple times and have not seen any negative changes on my reports.

Message 2 of 6
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Established Contributor

Re: Closing New Card, Good or Bad?

I don't see any point to closing them if they don't have an annual fee. On the other hand, closing them probably won't hurt you with the other cards you have showing in your sig.

Message 3 of 6
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Valued Contributor

Re: Closing New Card, Good or Bad?

They add as new accounts opened. The Average age may drop slightly if I close them. 

 

But they have no AFs. I have a total 20+ CCs open. 

Message 4 of 6
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Super Contributor

Re: Closing New Card, Good or Bad?


@BronzeTrader wrote:

They add as new accounts opened. The Average age may drop slightly if I close them. 

 

But they have no AFs. I have a total 20+ CCs open. 


Closing them has no effect on your average age of accounts in FICO.


Total revolving limits 653000 (575000 reporting)

Message 5 of 6
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Mega Contributor

Re: Closing New Card, Good or Bad?


@BronzeTrader wrote:

I opened two store or gas credit cards (like Citi Wawa credit card) this year. But I do not use them any longer. I just do not know if closing them down is good or bad for the credit score. No starting bonus to talk about. The cards just become redundant. There is not much impact to the average age of my cards.

 

I just do not want the creditors to see this as negative and I'm a churner. I received nothing to open the cards.


As you have 20+, I wouldn't worry about closing.     If they don't impact utilization, no score hit, so the only issue would be on manual review.   Issuers are looking for patterns of "abuse" and just doing it once or twice shouldn't matter.

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