Two Open Accounts: Should I Close?

[Anonymous]

I'm reviewing my credit report which shows a credit card that I haven't had in a very, very long time but still shows as open.  I'm not touching it in that it's my longest, by far, line of credit so if it's seen as open I'm totally fine with it.

I have a second card showing as open, with a small $300 balance (a Kohl's card) that was opened then closed a month later, in good standing and paid, due to too many credit inquiries at the time I got the card opened.

Anyway, I have about five other low limit cards (around $500 each) open in good standing but am planning on applying for a prime card in a year or so.  Should I leave the Kohl's card on my report, that is showing that it's paid each month (free good standing credit history?), or should I remove it to perhaps reduce the amount of open credit?

Secondly, I have a secured card that I got a few years after I opened a line of credit for my car (my first step to rebuilding credit as a co-signer which eventually got refinanced into my name only).  I would like to get my deposit back now that I have other lines of credit.  This was my first credit card that I opened last March. Will I ever get my money back or should I be able to close it without issue? It's only a year.

[pizzadude]

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@Anonymous wrote:

I'm reviewing my credit report which shows a credit card that I haven't had in a very, very long time but still shows as open.  I'm not touching it in that it's my longest, by far, line of credit so if it's seen as open I'm totally fine with it.

I have a second card showing as open, with a small $300 balance (a Kohl's card) that was opened then closed a month later, in good standing and paid, due to too many credit inquiries at the time I got the card opened.

Anyway, I have about five other low limit cards (around $500 each) open in good standing but am planning on applying for a prime card in a year or so.  Should I leave the Kohl's card on my report, that is showing that it's paid each month (free good standing credit history?), or should I remove it to perhaps reduce the amount of open credit?

Secondly, I have a secured card that I got a few years after I opened a line of credit for my car (my first step to rebuilding credit as a co-signer which eventually got refinanced into my name only).  I would like to get my deposit back now that I have other lines of credit.  This was my first credit card that I opened last March. Will I ever get my money back or should I be able to close it without issue? It's only a year.

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I wouldn't do anything to the Kohls card, if it is reporting as open, then great ~ and it is always a good idea to leave positive accounts alone.....Having available credit showing on your CR is always good, IMO.

As far as the secured card, what was your deposit for the card ??  I would assume that you would get it back after closing the account, but when you get it will depend on the issuer's policy, sometimes it can take several months for deposits to be returned.

[Anonymous]

The deposit was $500. I opened it at the same time that I received a secured Public Savings Bank card with a $500 limit as well.

Public Savings Bank since went weird with their credit lines when they got bought out and I canceled that account in Oct '11.  This would be my only card left that is secured, yet my oldest credit card if by only a year.

[pizzadude]

Closing the secured card won't hurt your FICO score ~ unless your %util increases as a result of losing the CL. 

It will remain on your CR for the next 10 years as a positive TL.    If you need the depost, go ahead and close, since you have 5 other CCs open it sounds like you are in good shape and will be headed for prime~land....