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FICO Scores & closing credit cards

Regular Contributor

FICO Scores & closing credit cards

Stupid question, cause I truly dont know.   I always read stuff out here and you guys are just awesome with advice.  Not sure i posted this in correct place.  My apologies if i didnt.



I plan to sale my house this summer and downsize into smaller rambler house as i plan to retire in about 5 to 6 years.   I have done very well in my current home with lots of equity.   I want to close some credit cards as i dont need them, and dont want to be tempted.   I paid all my credit cards off but 1 with 3% posting on AlaskaFCU Visa ($12000 limit, owe $275) .   I plan to keep my oldest cards (Amex, Citi and AlaskaFCU).


I want to close the cards that i applied for in the last 3 to 4 years (4 cards).   Will my credit take a huge hit closing out the most recent cards.  My total limit across all cards is $71,350.     I have 1 inquiry on each of my reports.


I want to keep:

AlaskaFCU Visa - $12000 limit

Amex BCP - $8600 limit

Citi DC MC - $10300 limit



My scores are as of Feb 2019 (TU 793, EX 810, and EQ 817)


I would have plugged my scores on my signature, but stupid me i dont remember how.  Smiley Mad




Message 1 of 3
Community Leader
Senior Contributor

Re: FICO Scores & closing credit cards

Closing the cards will not hurt you since your utilization is so low. If you had significant balances on the three you planned to keep, and you closed the others, your aggregate utilization would go up potentially a lot (if those other cards had big CLs). Closing these cards out will raise your aggregate usage percentage but given that it’s so low, I don’t expect it will cause an issue.

And if you were wondering, closing cards in and of itself will not affect your scores. Only a change in utilization and/or Account ages as a result of closures will do that. You have very low usage and are keeping your oldest cards. You’ll be fine.

Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | PenFed PCR | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex

TCL $93,100 | Agg. Util under 5%
Message 2 of 3
Super Contributor

Re: FICO Scores & closing credit cards

Good reply from ITD above.  I see no reason why you shouldn't close the cards if you don't feel you need them.  Your FICO scores will not suffer even a single point based on the information given.

Message 3 of 3
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