Advice on Closing Credit Card Accounts

[senseidab]

I have just been approved for the Amex Delta Card $1000.00 limit I also have been added as a co applicant  to an account that is 5 years old.  My fico reports that my credit card average time is just one year. Should i close the orchard, first premier and capitol one in order to give me a better credit card average?  TY

[Tuscani]

---

senseidab wrote:

I have just been approved for the Amex Delta Card $1000.00 limit I also have been added as a co applicant  to an account that is 5 years old.  My fico reports that my credit card average time is just one year. Should i close the orchard, first premier and capitol one in order to give me a better credit card average?  TY

---

The general rule is to leave them open unless they are costing you money. I am sure all three of these cards have AFs. So honestly, I would at least close the First Premier ASAP, and leave the others open until the AF role around. In the meantime, be wise with the Amex card and try and add a new other positive accounts.

[Anonymous]

I agree the first Premie would be the first to go as they are probably not only charging annual fees but monthly participation fees as well.  Just be careful that when you close that account it doesn't throw your utilization out of kilter keep it under 30%.  I would look into closing the Orchard next as it probably has a high annual fee than the Cap1.  Again make sure that as you close you have adequate utilization and it would be the perfect opportunity to open better lines of credit to replace them