cancel
Showing results for 
Search instead for 
Did you mean: 

How long is it good to keep?

tag
Anonymous
Not applicable

How long is it good to keep?

 

I have have an unsecured $300credit card with Credit One for almost a year now and I have opened other credit lines since then. I don't want this one anymore but I am not sure if I should just close it. 

Is it a good idea to just close down these small unused accounts or is it better to keep them alive?

Message 1 of 3
2 REPLIES 2
DI
Super Contributor

Re: How long is it good to keep?


@Anonymous wrote:

 

I have have an unsecured $300credit card with Credit One for almost a year now and I have opened other credit lines since then. I don't want this one anymore but I am not sure if I should just close it. 

Is it a good idea to just close down these small unused accounts or is it better to keep them alive?


Close the cards that  has an annual fee.  But keep your oldest card open to maintain your AAoAs ten years from now.   

Message 2 of 3
visorboy1974
Valued Contributor

Re: How long is it good to keep?


@Anonymous wrote:

 

I have have an unsecured $300credit card with Credit One for almost a year now and I have opened other credit lines since then. I don't want this one anymore but I am not sure if I should just close it. 

Is it a good idea to just close down these small unused accounts or is it better to keep them alive?


 

Since you're only talking less than a year difference between cards, even if it's your oldest card, go ahead and close it before the AF is billed for the 2nd year. 

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.