Closing Total CC do more good than bad?? HELP!!!

[Anonymous]

I'm thinking about closing my Total Visa CC wanting to know if it would do me more harm than good and if its even worth it.

Little background, only had it for 6 or 7 months, rarely use it, and it has an AF  I currently have

Comenity/Venus 400 10/2014

Discover 300  06/2016

CapOne 500  01/2017

Total Visa 300 01/2017

Comenity/ Carsons 450 06/2017

Comentiy/ Children's Plc 500 06/2017

Comenity/ Vict.Secr 250 7/2017

NFCU 1,600 8/2017

[Anonymous]

The only reason it would hurt is if you use it to pad aggregate utilization.

Without knowing your utilization, there's no way to tell you.

[bizarrocreditworld]

Based on the age and credit limits of your other cards, it's safe to get rid of your Total Access card (as long as it has a zero balance, of course). The card stays on your report for 10 years after you close it and the change in utilization percentage will be relatively minor.

[Anonymous]

Since your file is fairly thin when it comes to visa/mc I would keep it for now. I'm not a fan of too many store cards because then you have to spend money in those specific stores to keep them active. I find visa or mc much better for the long haul of the credit game.

[Anonymous]

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@Anonymous wrote:

The only reason it would hurt is if you use it to pad aggregate utilization.

Without knowing your utilization, there's no way to tell you.

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Before getting approved for my NFCU cc i was using it as padding for utilization and that was my only reason for keeping it so closing it wouldn't affect my utilization by much if any at all. But I rather not pay a AF for a card I dont use and has had a zero bal for months.

[Anonymous]

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@Anonymous wrote:

Before getting approved for my NFCU cc i was using it as padding for utilization and that was my only reason for keeping it so closing it wouldn't affect my utilization by much if any at all. But I rather not pay a AF for a card I dont use and has had a zero bal for months.

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No need for it then.  Cancel away!

The only three reasons for NOT closing a credit card are:

• If it helps pad overall/aggregate utilization
• If it's your oldest account by a long shot -- I do believe open accounts are figured into the age of oldest account somewhere in FICO scoring, but maybe not by much.
• If it's your only card with a bank you want a future relationship with

Also, if it's a card with a bank you have other cards with, it's always better to see if you can combine CLs into a big one before closing, but since this card doesn't offer that, no point in worrying!

[Anonymous]

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@bizarrocreditworld wrote:

Based on the age and credit limits of your other cards, it's safe to get rid of your Total Access card (as long as it has a zero balance, of course). The card stays on your report for 10 years after you close it and the change in utilization percentage will be relatively minor.

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Thanks. It does have a zero bal so i guess it's safe to close it considering it wont hurt my credit too much. I rather not pay $75/yr for something thats not necessarily helping me.