Hey Guys ,
I have the following credit card cards:
Chase Freedom - CL : 10+K : opened since two years
Amex - CL 20+K : opened since one year and half
Capital one - CL 3+K : opened since one year and half
BBVA Compass - CL 2K : opened since one year
Discover IT - CL 3K : opened since 6 months
I do not use the following cards: BBVA Compass and Discover IT and rarely I use Capital one
I would like to close them because I think I will not use them.
I know it's not good to close a credit card in the credit score history but I do not see any interest in keeping them open.
Can you please give me your opions ?
thanks in advance
Closing credit cards should have no effect on your credit scores if the account were closed in good standing i.e. they were all fully paid off. A closed account can remain on your credit report for up to 10 years so they will still contribute to your accounts aging.
If you are carrying balances on your other cards, closing $6,000 of your current credit lines might cause your aggregate utilization to increase above a threshold that will cause you to lose some points on your FICO score. But if you arent carrying balances it should not be a concern.
OP, while not directly related to your question here, I have a question for you... why are you applying for cards that you aren't using? For example, Discover is a pretty good card Year 1, arguably great card Year 1 if you consider the 10% back for their rotating categories... yet you say you don't use it. I would definitely not apply for cards going forward that you couldn't see yourself using for an extended period of time, unless of course it was to gain a quick SUB or something. Just something to think about in the future.
As for closing cards, doing so has no impact on your age of accounts, as those accounts will remain on your reports typically for another 10 years. If you're not going to use them go ahead and ditch them, just try and avoid grabbing cards and dumping them [relatively] quickly going forward, as it doesn't really buy you anything.
Thanks for you reply Guys ,
so yes I was wrong to ask for other cards, maybe I thought about seeing more credit limit but as I told you, I'm using my two cards Chase and Amex and occasionally Capital one, but for others I even put them out of my wallet.
Thank you for your advice, I wanted to be sure that this will not give a bad sign in my credit score .