How do lenders view you when you close a credit card account with them? Does it affect future applications? Account is in goodstanding, always PIF on time, just the card doesn't work for me anymore, and I'd rather not have it hanging out there.
I have closed 4 cards since July. No negative impact. If you don't use it and are covered by other CL cards, then close it.
just never your oldest.
The only time I would worry about it is in situations where you recieved a signup bonus. It doesn't make you look good if you close the card shortly (or even a few months) after that, and Amex, for example, has really cracked down on people doing that and will take back the points. Even if a bank doesn't forbid it so strictly, it certainly isn't something they want to see people do. If you did recieve the bonus, and the card has no AF (or AF already paid for the year), just keep it until the year mark, then close it.
If no signup bonus, I really don't think it matters as much. If it serves no purpose, and your utilization won't skyrocket with the loss of the limit, close away.
I doesn't matter. The computer is doing all of the thinking and unless someone went to manually mark the file for decline in the future it won't impact your ability to get another one down the road.
Bonuses are different but, you already collected and the expectation shouldn't be that there is going to be another one paid out but, if they do then it's a present.
If it's useless outside of the normal objections of age, CL, etc. then just give it a double tap and move on.
If there is no path for a useful PC, close it. If you were a good customer, you might get more offers from them for a different card. Maybe one that is useful (but can't be PC'd).
It's a little less expensive for them to recruit a customer for a new product if they already know the customer and the customer knows them.