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Outside of credit dip and ratio hit, is it ok to close accounts?

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FicoMike0
Valued Contributor

Re: Outside of credit dip and ratio hit, is it ok to close accounts?

@Varsity_Lu 

My oldest account is a similar vintage lowes. Also closed in 2015. I'm not looking forward to that ageing out.

Message 11 of 12
indiolatino61
Valued Contributor

Re: Outside of credit dip and ratio hit, is it ok to close accounts?

Good morning, all...

Personally, the only cards I would eliminate are AF cards which are not furnishing a positive benefit. This often includes bucketed, rebuilding cards with AF and low CL. After a while and after aquiring better cards, these cards can be eliminated. In fact, my wife and I are considering closing our AmEx platinum cards, or at least one of them, since we are retired and do not travel as often. We never go anywhere separately anyway, so why pay $695 for nothing. Best of luck.

Message 12 of 12
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