Sam's Club card question

Get credit card fraud help: For victims of credit card fraud and identity theft, and those that can help.
4 posts
credit-utopia
Green Member
Green Member
 
Posts: 20
Joined: Mon Oct 20, 2014 6:42 pm
Location: IN

Sam's Club card question

Postby credit-utopia » Mon Oct 20, 2014 6:55 pm

I got approved for a Sam's Club store credit card with a $2400 limit about 6 months ago. I have used the card a few times and it currently has a $0 balance. Yesterday while I was in the store I decided to try for the MasterCard. I was instantly approved and got a $10K limit.
I thought they would just upgrade my current card, but it appears I now both cards open and active. My question is should I close the store card since it's still fairly new, or should I keep it open for the credit history?


User avatar
PlyrStar93
Centurion Member
Centurion Member
 
Posts: 410
Joined: Wed Jun 04, 2014 1:06 pm
Location: Chicago

Postby PlyrStar93 » Mon Oct 20, 2014 9:03 pm

For credit history concern, you do not have to keep it open for more history.

When you close the card, it will still be on your report for 10 years, and no AAoA will be affected at the time you close it. Your total available credit limit, though, will decrease due to the closure, and it could have impact on your overall utilization (which could be reduced by manipulating the balance reported on other card).

If you decide not to use it again, then just close it and there's not much harm.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

credit-utopia
Green Member
Green Member
 
Posts: 20
Joined: Mon Oct 20, 2014 6:42 pm
Location: IN

Postby credit-utopia » Mon Oct 20, 2014 9:30 pm

Thanks for the response. I just realized I somehow posted this in the wrong forum. Oops.

ingramjuan
Centurion Member
Centurion Member
 
Posts: 265
Joined: Thu Nov 20, 2014 5:32 pm
Location: EARTH

Postby ingramjuan » Sat Nov 22, 2014 10:50 pm

It depends on what you are trying to do. If I was in your shoes I would keep both cards open to have a large available credit to help my credit score.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes



Return to “Credit Card Fraud”

Who is online

Users browsing this forum: No registered users and 0 guests