Close all my cards except 1?

[jeboles]

I am debating closing all my cards except 1.  I have  a few these cards that I don't really use, and some that are coming up to an annual fee.  I plan to keep my NFCU More Rewards.  How would closing these cards affect getting a mortgage within next 6 months?  I don't keep balances and only let 1 report a small charge a month.

Cards I have:

NFCU More Rewards ($20/$2000)

Credit One Amex ($0/$500)

Mission Lane ($0/$300)

Victoria Secert ($0/$400)

Ikea Projekt ($0/$1000)

Lexis Persuits ($0/$1500)

[Red1Blue]

If you dont have AF then you should keep the cards. If you have AF and it is very high then close it. I think having cards does not affect the mortgage approval. Having high balances on the cards can affect your application. If you keep the balances low it should be okay. Good luck with what ever you decide.

[jeboles]

I know having them should affect my mortgage application.  However, I don't really feel like i should keep something if I don't really use it.  Im scared, like what happens if the card gets hacked and I don't check on it?

[jeboles]

Do the store cards count as regular credit cards?  If so, I'd just keep the NFCU and the 3 store cards.  I'll kill Mission Lane and Credit One.

[jeboles]

The Lexus is a store card also, not a Visa or MasterCard.  Are they weight differently?

[gdale6]

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@jeboles wrote:

The Lexus is a store card also, not a Visa or MasterCard.  Are they weight differently?

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No but letting a bankcard report for AZEO seems to work better.

[jeboles]

I do let my NFCU report a small bal. I assume that NFCU is a bank card. 

[FireMedic1]

My opinion. I wouldnt make any moves at all right now before a mortgage application. They sure aren't hurting anything right now. They're actually helping. The less movement on your reports the better. Now after your approved for a house. Then make the moves you described. But for now. Keep doing what your doing now with AZEO and chill. Good Luck on the house. Let us know how it goes.

[jeboles]

I actually got preapproved for a mortgage. I guess I'll eat these annual fees on credit one and mission lane and let all the cards ride for a while longer.  i didn't think I'd get preapproved as I have a ton of inquiries. Happy me

[CYBERSAM]

Congrats on your preapproval 🤑