Should I close credit cards?

[Trini88]

I would 100% get rid of those predatory cards if I were in your shoes. My first card (not in my signature) is still being reported to the credit bureaus in good standing  even though I got rid of it almost 2 years ago.

[longtimelurker]

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@Aim_High wrote:

  But if all of them are costing you fees, close them all immediately.  Echoing the above, finances above FICO. 

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Yes, I agree.   And I would possibly be a bit stronger!   Even if you knew that closing the cards would immediately cost say even 20 points each, I would still close them.    On a FICO forum we are often too focussed on score, and forget what the whole point of a good/great credit score is, the ability to get good credit products and/or loans at the lowest rate.   Paying money every month for poor products is not a win!

[Anonymous]

Just echoing the chorus that says close them after you PIF. I did the same thing to a few early cards I had during my rebuild, it didn't negatively impact my utilization because I got CLIs or subsequent cards that surpassed the toy limits on the early ones. It's just also nicer/easier to manage fewer products when you're not using them. 

[Michizane]

Close 'em all. The longer you wait, the harder it will be for you to close IMO. I'm of the same boat with my Capital One secured card that has been secured for like 9 years. It is my oldest card and it charges me a $29 AF. Even though FICO would consider it in my average age...it still feels weird for me to close it.

Since this cards are still relatively new, you should be good. Close them as soon as you get a solid card or two.