When does one cancel no-AF cards?

[OmarGB9]

When they no longer fit your needs.

[Mattopotamus]

Like others, I sock drawer the cards I do not use. It just tacks on to the 10 years it will continue to report after being closed.

[Anonymous]

The util argument is often overblown. If you do the math, you usually find that your util only increases by a couple percent. I tend to close cards that I don't use anymore. I don't want to manage them, so I let them go.

[kdm31091]

I think it's largely a preference, as the only immediate negative consequence of closing a card is the loss of the limit for utilization. But if your utilization is already low, it's not an issue. Besides that, utilization is fluid and has no long term consequences, so there's no reason to over-worry about it.

So the only real advantage to not closing the card is that it will remain on the report longer, but for me personally, that's not a great enough advantage. Even once closed, you still get 10 years of the history reporting, by which point your other cards will be 10 years older.

I don't think there is any advantage to keeping cards just to keep them, unless you only have one other card or something. But if you have a handful or more, and your utilization is low, you are not likely to see any problems from closing whatever doesn't suit you anymore. I do temporarily SD cards at times while deciding whether to close them, but the idea of SDing something for months and months that you will never use again makes little sense to me.

[Anonymous]

If I am not going to use it, I close it! Less to worry about.

[manyquestions]

I don't close non annual fee cards because I don't find it too much trouble to use them all once per year and one of my goals is to get my average age of accounts above ten years. As others have mentioned, do whatever you are comfortable with. In the long run, it probably won't affect your scores much either way.

[bk510]

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@FinStar wrote:

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@Anonymous wrote:

You dont

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Sorry but that's not an absolute.  While some individuals are fine with SD'ing a CC, other folks can close any non-AF accounts at any point in time if they wish.  The OP would need to decide what is best for them.  There is no downside to closing an account that no longer fits an individual's goals, lifestyle or purpose.

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I just combined 3 yr old QS1 and 6 month old Venture to QS.....each 1 week apart.

[Anonymous]

I just closed a Walmart store card with a $400 limit.  Reasons the limit was way too low, and I barely shop at Walmart as it is.  Plus it was a rebuilder card when I was new at credit 2 years ago.  I'll be closing CareCredit (with no AF) next, simply because it's no longer useful to me, and I never intended on applying for it in the first place since it was a dentist who suggested it and I begrudgingly went along.  

Thinking I'll probably keep the Amazon account since I'm a prime member and I use it quite often.  And it will be useful for those times when Discover and Freedom aren't in the 'Amazon' categories for the 4th quarter. 

Most of the advice of not closing any non-AF card for any reason is pretty much bull.  If it's not useful to you, get rid of it, AF or no AF.