Store CCs

[arjames01]

Okay another question ( I am full of questions today ). Obviously I am trying to get down to one main credit card, since owing on multiple seems to drive me crazy. I have a few CCs that I haven't used in awhile. I know you need to have a store card so I have a Macy's (since I used to work there), a Dell card (not sure if that is considered a store card). Well needless to say, since I escaped from Macy's   I really no longer shop there. I really don't want to keep the card, but it was my first CC. I would rather replace it with a different store card such as Best Buy, since I purchase PC parts etc, from there. Would it be silly to cancel the Macy's and open a BB? Or should I keep the Macy's only for the age?

[cabana7]

If your Macy's account has no annual fee, why not keep it. You never know they may have a sale one day or maybe during the holidays etc...

[arjames01]

Yes they always have sales . But its not the same as having your discount on top of it. haha. I just don't want to have too many accounts open. That's why I wasn't sure what I should do with it.

[smallfry]

Absolutely keep the Macy's card try to keep the store cards down to a minimum. Too many of these and gas cards make your credit reports look like kitty litter. It is not a good idea these days to limit yourself to one bank or credit union for your go to card. What happens if you lose the tradeline?

[arjames01]

I also have a Cap1 card, which I know is not a store card. But I have had the same $750 CL for 2 years, and they won't raise it. They say that they do the raises randomly. I was thinking about ditching this one.

[Anonymous]

i wouldnt close any of them.  if they dont cost you anything just leave them open.  tear up the card if you want and dont think about it.  

closing them hurts your average age of accounts and along with your total revolving credit limits.

ex: if you carry a balance of $250 against a $2500 total limit of all cards, it looks better than carrying that $250 on a total limit of $750.

[smallfry]

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@Anonymous wrote:

i wouldnt close any of them.  if they dont cost you anything just leave them open.  tear up the card if you want and dont think about it.  

closing them hurts your average age of accounts and along with your total revolving credit limits.

ex: if you carry a balance of $250 against a $2500 total limit of all cards, it looks better than carrying that $250 on a total limit of $750.

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Closed accounts still count towards AAofA until they drop off your reports. In my recent experiences with Equifax it is not safe to assume they will remain for 10 year. 4 lasted 7 years 2 lasted just 5. I agree though the OP should not close any cards.