@gtjohn wrote:Hey all i am thinking about closing my NFCU cc account here is why, i have a total of 4 cc's, Auto Loan, mortgage.
BofA 16/30,000
USAA 0/22,000
DISC 0/13,000
NFCU 0/15,000
util 1-2%
I am doing the AZEO i just think it would easier to manage 3 cc's vs 4 cc's to rotate, i read somewere in these thread's that the CB's like to see a min of three revolver's, basically i want an idea if my score will take a hit
EX=801,TU=795, EQ=800
thank's everyone
I see no reason to do that. Not sure what card it is if a Visa or MC it can be PC'ed. Otherwise I would use it once in a while or put an auto pay bill on it to keep it active. Just my opinion.
PC means Product Change. Perhaps you can switch to an NFCU CC that better suits your spending habits/needs. Maybe their low APR Platinum (7.49% is current low) just to have a card to use in case you have an unexpected expense and need to carry a large balance for a while.
I think you'll be hard pressed to find anyone in this forum that will agree with closing NFCU... lol, they are quite beloved - and for good reason.
My opinion is to consider keeping the relationship because NFCU actually values relationship - in the event you fall on hard financial times in the future, they would be the most likely of your creditors to work through it with you and help you get back on your feet. BOA and Disco will both tell you to kick rocks - relationship means nothing. USAA values relationship to an extent - but profit always comes out on top. It's good to have a solid, relationship-driven credit union in your corner, just in case.
That said, if you feel none of the above is worth holding onto the card, then close it. All you'll lose is the credit limit and your util is low so that won't matter much; and the closed account will still factor in your age of accounts for as long as it remains on your reports - usually up to 10 years.
I think you'll be hard pressed to find anyone in this forum that will agree with closing NFCU... lol, they are quite beloved - and for good reason.
My opinion is to consider keeping the relationship because NFCU actually values relationship - in the event you fall on hard financial times in the future, they would be the most likely of your creditors to work through it with you and help you get back on your feet. BOA and Disco will both tell you to kick rocks - relationship means nothing. USAA values relationship to an extent - but profit always comes out on top. It's good to have a solid, relationship-driven credit union in your corner, just in case.
That said, if you feel none of the above is worth holding onto the card, then close it. All you'll lose is the credit limit and your util is low so that won't matter much; and the closed account will still factor in your age of accounts for as long as it remains on your reports - usually up to 10 years.
@Anonymous wrote:If you want to keep it simple stop doing AZEO. This is only necessary if you are about to apply for a new account particularly a mortgage. FICO mortgage scores see the most benefit for AZEO. FICO 8 which most lenders use will see a minimal impact (a few points) from this. Once you stop doing it and see the tiny amount your score drops you will wonder what on earth you were spending all of this time doing this for. Seriously. AZEO is the most over recommended advice in all of ficoland.
Use the cards that give you the most benefit. Throw a Netflix or somethingsmall on the others to keep them active. Enjoy all the additional free time you just gained with your family,
All of this too. +1 completely agree. There is no need to do AZEO continuously and it's certainly not a good reason to close an account with a lender like NFCU.
