Should I close new accounts

[rmduhon]

Even if you close them they'll still show as new credit. Another thing to look at is how the payment history adds up every month. 1 card will add 1 positive payment (even if you don't use it it'll show as paid as agreed) while 10 cards will add 10 positive payments. Just throwing out card numbers for an idea.

[Anonymous]

you're right, Aduke; no need to keep something open if it's not needed. It won't help scores improve, but will be one less account to keep track of

[Anonymous]

I'm clear that the damage is done...score wise. but will closing the account make them no longer show as NEW accounts? I'm not hoping it will raise my score...just don't want it to hurt it and want the amount of NEW accounts to go down.

[Anonymous]

It will show the date the account was opened. Even if you close it now, it will still be an account opened in the last 12 months. If denials are for too many new accounts, open or closed won't matter as much as the date it was opened.

[Anonymous]

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@rmduhon wrote:
Even if you close them they'll still show as new credit. Another thing to look at is how the payment history adds up every month. 1 card will add 1 positive payment (even if you don't use it it'll show as paid as agreed) while 10 cards will add 10 positive payments. Just throwing out card numbers for an idea.

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THIS is the answer I was looking for. If they will still show NEW...I will keep them I also thought about the positive payment history on the cards that have been opened almost a year. ok...thanks every! I'll wait it out. #LessonLearned

[Anonymous]

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@Anonymous wrote:
It will show the date the account was opened. Even if you close it now, it will still be an account opened in the last 12 months. If denials are for too many new accounts, open or closed won't matter as much as the date it was opened.

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+1 

Each tradeline has a date when the account was opened. Closing accounts doesn't make them less new or not new. They're new. Nothing can be done about that. 

[Aduke1122]

Hey Rmduhon while I agree that payment history is very very important, not ALL accounts report every mth as Paid as Ageed and I had to learn this the hard way , I had no positive tradleines when I started my rebuild and that was one of the major factors holding my scores down so I opened several store accts from Comenity and they will only report if you have a balance and are paying on them , which to me is a pain in my backside to have to worry about buying stuff I would not normally buy and spending Cash I don't have to just to get the acct to report every mth . These accts will be closed for me in the next mth or two , personally I just don't want to have to deal with them and keep up with them anymore plus like Op I have gotten the too many new accts statement a few times in my rebuild . I know it won't make a difference now but I feel like they don't serve me a purpose and only hurt rather than help. Also the more I learn about credit and all the more I have been advised against having too many store accts

[rmduhon]

Hubby's comenity cards update sporadically without activity on them, but always if there's activity, no need (for him anyway) to have a balance report. As always, YMMV

[Anonymous]

Which Comenity accounts only report if you have a balance? 

I ask because I think you may be confusing reporting versus statements. I have two Comenity accounts, Overstock and Wayfair. I went a few months without a balance on my Overstock, and while I didn't receive a statement for that card, checking my tradeline shows that they did indeed report that the account was in good standing, even without a balance. 

[rmduhon]

Hubby's Overstock hasn't reported since December, but he just got a CLI so I'm going to wait until May to see if the CLI counts as activity. If not, I'll think about getting something for hubby for Father's Day. His Express and Victoria's Secret updated late last month with no activity since sometime around October. They've recently gotten CLI's also.