Is it wise to close sub-prime cards when open less than a year?

[Anonymous]

I know there is the thing about not closing cards open less than a year as banks will track it as SUB chasing or w/e. My oldest card is from October 2017 when I began my rebuild. I am not so much worried about AAoA as my oldest reporting item is a 12 years and my AAoA is at 6 years.

Now that I am in with NFCU (Cash Rewards) I plan to add 1-2 more cards this year for the trifecta and then stick with those and start closing my sub primes since I won't need to keep them around anymore and garden until 2021.

On my planned chopping block for this year are:

First Premier 600 limit (10/17)

First Premier 1000 limit (1/19)

Credit One 800 limit (11/17)

Credit One 850 limit (1/19)

I am carrying a 0 balance on all of these currently.

Aside from the losing the limits, which I hope to make up via NFCU, would it be a bad idea to cancel oll of these in say July/August?

[Anonymous]

As soon as you start getting prime cards, cut the subprime cards. 

Keep in mind there is a score penalty for having less than three cards (50% or more cards with a balance penalty if you are letting a small balance report, all cards at $0 penalty if you’re not letting a balance report) so if you have two that don’t have an AF, it could be better for your score to keep them for now. 

[Shooting-For-800]

You might want to consider cutting them one at a time over a period of time.

[Anonymous]

---

@Anonymous wrote:

As soon as you start getting prime cards, cut the subprime cards. 

Keep in mind there is a score penalty for having less than three cards (50% or more cards with a balance penalty if you are letting a small balance report, all cards at $0 penalty if you’re not letting a balance report) so if you have two that don’t have an AF, it could be better for your score to keep them for now. 

---

Thanks. Right now I have these others:

Cap One Plat - No AF, reports 0 bal

Avant - AF, reports 0 bal

Cap One QS1 - AF($39) 

NFCU CR - No AF

The QS1 and NFCU card I will allow one to report a balance. Still trying to figure out if it is wiser to let the QS1 report a low balance ($20) and PIF the NFCU or let the NFCU carry a low balance. Not sure if having a small balance will help or hurt with NFCU as I plan to app the 2nd card in July and want the best results.

[Anonymous]

NFCU doesn’t really care much in my experience. Just pay them. 

I would just chop those AF cards and try to PC the QS1 to QS or VentureOne (I know the V1 has limited use but it’s a no-AF card that can be PC’d to regular QS 6 months later). 

[pinkandgrey]

I would definitely close subprimes. But for that matter I close any card I don’t use anymore. 

[fritscher]

Yes get rid of them.

[UpperNwGuy]

Close them.