Advice on closing an Account?

[Anonymous]

I need some advice on to keep one open and keep paying the AF or close it down?
The card is a bottom feeder Merrick with a 3.00 per month charge.
AAoA is 2years4months
My current open cards are
Merrick 2years5months
BBVA 1year
Discover 1year3months
NFCU Card 2years2months
NFCU Autoloan 1 year10months
Kohls 2 years11months
Cap1 5years4months
I have built up some decent CLs and im keeping them growing but wondering if dropping the one card will hurt FICO and if I should replace it?

Any advice is appreciated
Thanks

[AllZero]

If the fee outweighs the benefits, I would recommend closing it. It should stay on your CR for up to 10 years. It will have no affect on your AAoA until it falls offs.

Losing the credit line could impact you if it raised your aggregate utilization over a scoring threshold.

Have you considered a 2nd Navy card?

[FireMedic1]

C-Ya!

[Anonymous]

Im not really worried about the hit to the utilization as I PIF every month except a small amount on one card. The Merrick CL is only 1200.00. My largest CLs are NFCU 18K, Discover 9500, BBVA 6400 the last two I need to ask for a CLI soon.
I will hold off on another NFCU card as I just got a CLI. I may get the Costco Visa as the cash back is pretty good but not a fan of Synchrony.

[AllZero]

With Navy, one is eligible for new card after 3 statements and 91 days after last card approval, it's not related to CLI.

Good luck with your CLI on Discover and BBVA.

[RobertEG]

While closing a revolving account will not per se remove it from your AAoA (and possibly also your oldest accoount) calculation per se, the big unknown is what the creditor may then choose to do.

After an account in good standing has been closed, creditors have the incentive to report total deletion of the account to the CRA.

That removes any issues of continuing to monitor prior reporting for any possible changes that might require update, or for having to invest the time, effort and cost of responding to any possbile consumer disputes or requests for good will considerations.

Simply deleting the account removes those housekeeping issues.

If the creditor does delete, then any the account will of course be totally removed from any scoring issues, positive or negative, including age of accounts scoring.

[Anonymous]

If they removed an account that was in good standing I would open a dispute. I don't forsee them doing this but anything could happen.