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Closing CC's, Effect on Score

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Donks3369
Established Contributor

Closing CC's, Effect on Score

So here are the CC's that I have:
 
Washington Mutual              CL $2000     Balance $450     Opened 05/2008     No Annual Fee
Juniper                                 CL $400       Balance $0         Opened 01/2008     No Annual Fee
Washington Mutual              CL $3500     Balance $853     Opened 12/2007     No Annual Fee
Citi                                        CL $3950     Balance $0         Opened 12/2007     No Annual Fee
HSBC Card                          CL $2400     Balance $0         Opened 11/2007     No Annual Fee
HSBC Card                          CL $1450     Balance $0         Opened 03/2004     Annual fee $59
 
So my question is.  Should I keep all of these cards open or would it help my score to close any of them?  I figure that the damage has been done by opening them, but if it would help my score I could close it.  Any advice would be great.  Thanks.
 
 
Message 1 of 6
5 REPLIES 5
fused
Moderator Emeritus

Re: Closing CC's, Effect on Score

Please read the link in my siggy
Message 2 of 6
Anonymous
Not applicable

Re: Closing CC's, Effect on Score

HSBC Card                          CL $1450     Balance $0         Opened 03/2004     Annual fee $59
       This is your oldest CC  it would hurt if you have no other opened in 2004 or before!
 
Closing CC will hurt as the CL will no longer figure into total UTIL.
 
I have a Cap1 card that I pay $29 a year for BUT it gives me a long credit history so I leave it.
Message 3 of 6
Donks3369
Established Contributor

Re: Closing CC's, Effect on Score

So from reading that, it could only hurt me to close the accounts.  Most have no annual fee so I'm not paying anything there.  I wouldn't close the one with an annual fee because it is my oldest.  So since they are already opened, they are done hurting me and can only improve my score with age.  Correct?
Message 4 of 6
Donks3369
Established Contributor

Re: Closing CC's, Effect on Score

Happy,
 
Is there anyway to get the CC company to reduce or eliminate the annual fee?  Has this ever been done before?
Message 5 of 6
Anonymous
Not applicable

Re: Closing CC's, Effect on Score

You can call and ask them. Some might do it but there is no way of knowing.
Message 6 of 6
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