Is it better just to keep a card that you don't want anymore?

[cr101]

My initial concern is that axing it would ruin my AAoA. But, I read on here that the card would stay on my report for 10 years, so my AAoA will stay the same for 10 years. Is that correct? 

But, am I better off just keeping it for small purchases, like Netflix, so that they can report a positive payment history? Just how much will this one account help my credit if I continue to make all payments?

[Remedios]

It can stay up to 10 years, but that's not guaranteed. Some actually stay longer, some are removed earlier. Removal of positive accounts, unlike negative ones, is not legally mandated and CRAs can remove them at any time during "housecleaning" or in some instances lenders have removed them for whatever reason. 

[zerofire]

It depends on the card. If it has fees for existing then you want to close it. If there are no fees then even letting it sit with no charges until the issuer gets bored is ok. How did this card fit into your life originally? How does it fit into your life now? Some issuers like to clean house every so often and while good info is supposed to stay for 10 years it is possible that the issuer will want to save some cash dropping the reporting. Other issuers are mechanical and will report to 10yr or longer.

[SoCalifornia]

What is your profile like?

[cr101]

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@SoCalifornia wrote:
What is your profile like?

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The card that I'm thinking of canceling is my oldest, just 3 years old. The second oldest is 1-year old. I just opened 5 accounts over the past month. I have a lot of delinquencies reported in 2017, mainly from student loans defaulting, and 3 med bills from around the same time.

[SouthJamaica]

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@cr101 wrote:

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@SoCalifornia wrote:
What is your profile like?

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The card that I'm thinking of canceling is my oldest, just 3 years old. The second oldest is 1-year old. I just opened 5 accounts over the past month. I have a lot of delinquencies reported in 2017, mainly from student loans defaulting, and 3 med bills from around the same time.

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I would hold on to it.

[Anonymous]

I agree, as I see no real benefit of closing it at this time.

[zerofire]

As long as there are no fees like annual or monthly it is beneficial if you keep it open. It is keeping your profile afloat right now. Be aware that government backed student loans never expire and getting them discharged in bankruptcy does not happen in 99.999% of cases.

[Anonymous]

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@Remedios wrote:

It can stay up to 10 years, but that's not guaranteed. Some actually stay longer, some are removed earlier. Removal of positive accounts, unlike negative ones, is not legally mandated and CRAs can remove them at any time during "housecleaning" or in some instances lenders have removed them for whatever reason. 

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A real shock when the First National Bank of Omaha (FNBO) deleted two credit cards that I closed back in the spring of 2016. Had had the cards for five years with no real rewards so I shut them down and FNBO felt spurned and cast me adrift (theatrics here)!

[FireMedic1]

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@Anonymous wrote:

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@Remedios wrote:

It can stay up to 10 years, but that's not guaranteed. Some actually stay longer, some are removed earlier. Removal of positive accounts, unlike negative ones, is not legally mandated and CRAs can remove them at any time during "housecleaning" or in some instances lenders have removed them for whatever reason. 

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A real shock when the First National Bank of Omaha (FNBO) deleted two credit cards that I closed back in the spring of 2016. Had had the cards for five years with no real rewards so I shut them down and FNBO felt spurned and cast me adrift (theatrics here)!

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The nerve of them!