Closing accounts that just opened?

[Anonymous]

I have been following the advice on this forum, and have done petty well - I can have unsecured CC again, thanks everyone! My score just got updated yesterday to 699.

The question is: I have already opened 2 secured CC. One of them is BOA that I just opened on Friday. 

I am reading that even Closed accounts are factored into my AAOA, so is it too late to cancel them? 

[TRC_WA]

Yes it's too late.

You've already taken the INQ and new account ding... might as well keep them open for 1-2 years at a minimum.

[gdale6]

---

@Anonymous wrote:

I have been following the advice on this forum, and have done petty well - I can have unsecured CC again, thanks everyone! My score just got updated yesterday to 699.

The question is: I have already opened 2 secured CC. One of them is BOA that I just opened on Friday. 

I am reading that even Closed accounts are factored into my AAOA, so is it too late to cancel them? 

---

I would not be canceling anything, underwriters dont like to see accounts opened then closed quickly. You have already taken the hit for the inquiry, AAoA decrease you might as well get some mileage out of it. The BoA is one that can be unsecured once you show them you are a good risk so I would keep it.

[Anonymous]

I would tend to concur - close them only if they have AF, and do it just before the fees hit.

[Anonymous]

As everyone has stated - don't close the accounts. Let them help you with utilization for the time being. You've taken the hit so use them to your advantage.

[Sheridan]

What was the other secured card? BOA will unsecure so def keep that one. (I was denied their secured card lol).

[Anonymous]

---

@Sheridan wrote:
What was the other secured card? BOA will unsecure so def keep that one. (I was denied their secured card lol).

---

lol. sorry to chuckle, but i haven't seen that often. sometimes banks like WF and BoA are just strange about it. go to a credit union and you should be fine.

[takeshi74]

---

@Anonymous wrote:

I am reading that even Closed accounts are factored into my AAOA, so is it too late to cancel them? 

---

Any time after applying is too late if you're trying to avoid impacting your AAoA.  Impact of closing is covered in this thread linked in the Helpful Threads sticky in the Credit Cards subforum.

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true

Your call to make on closing them but the damage has already been done.