Closing unwanted cards

For just about anything you want to get off your chest about credit cards.
12 posts
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Location: South Bay Area

Postby supercoolman » Thu Jul 10, 2014 1:33 am

who keeps unused CC? I don't. I just closed 3 cards with total of 17K CL last month

Centurion Member
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Joined: Thu Feb 07, 2013 4:53 am
Location: USA

Postby Ikarus » Thu Jul 10, 2014 10:47 am

Folks keep old cards to pad total utilization and stay below 30%. If the cards have no annual fees, it's not an entirely bad idea. Keeping dead cards with an annual fee and no perks has no benefit; some do it b/c they have no choice and cannot easily replace credit as others.

A good question or two might be:

When the bureaus show closed cards as "closed per consumer request" and "paid in full," what effect does it have?

Are creditors likely to extend you more credit to replace the credit you responsibly closed out?

Are creditors more likely to give credit line increases after viewing responsibly closed accounts?
Merrick Bank (Hooters) 4100
Cap One Quicksilver 4800
Discover it 2500
Citi Forward 8000
Chase Freedom 1000
AMEX Blue Cash Everyday 5500
Citi Dividend 7000
Cap One Visa Platinum 750 (CLOSED)

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