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How long to wait before closing down CC?

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Green456
Established Contributor

How long to wait before closing down CC?

So I made a mistake. I didn’t think things through. I applied for 2 credit cards earlier this year. Most likely I will close at least 1 if not both of them at some point. Yes I know, I could just throw them into a drawer but my OCD gets in a way. How long to wait before closing a CC? I would like to minimize AA or significant hit on credit. My utilization now is 1% so the only damage is average age of accounts. Would 1 year be enough or should I wait 2 years?
Message 1 of 4
3 REPLIES 3
TheBoondocks
Established Contributor

Re: How long to wait before closing down CC?

1 year is good enough but within 2 years.
Message 2 of 4
HeavenOhio
Senior Contributor

Re: How long to wait before closing down CC?

Which cards are these? Some should be held onto for a year so you don't look like a churner. With others, that doesn't really matter.

Message 3 of 4
Green456
Established Contributor

Re: How long to wait before closing down CC?

Citi DC = 100% chance of closing.

USBank Cash+ = 50% chance of closing.

Message 4 of 4
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