attrapereves wrote:The Cap One account I just closed (rarely used) out had a fraudulent charge a few months back. Luckily I check my accounts often, otherwise I would have missed it. Having a drawer full of cards seems like more of a risk.
I might close out another card or two by the end of this year, and hopefully get a CLI from some of my other cards.
This is deja vu. I just closed out a Cap One card for the same reason. Someone got a hold of my info and started small trickle charges: $1.50 here, $0.49 there. I think it was a setup to see if the account was still active before charging larger items.
I had a dispute with a vendor last year that went in my favor. Perhaps they did something? Or perhaps it was the Hooters waitress in LA a few summers ago (the only time I had the card physically leave my hand)?
Either way, it was a low CL card with no perks, only headaches, so I finally ditched it and felt great about doing so.
popamode72 wrote:Once I get a CLI on one of my main cards, I'm probably gonna close two low limit cards I hardly ever use. I just have them open now for utilization purposes. I think the most common thing I've read over at MyFico is that if the card doesn't have an annual fee, then leave it open or something like that and that even if you close it, the tradeline will still be on your credit report for years to come. Not sure if that advice is one size fits all.
That's my plan, as well. I would love to get rid of my old Merrick/Hooters card, but the CL is too large. I keep it to pad utilization. It does give me a FAKO score, as well, so at least I get something out of the deal.
But considering I get true FICO from Discover and TransUnion scores and credit tracker from my CapOne Quicksilver, the Merrick is basically a dead card I'd love to drop. Once I get a CLI from AMEX BCE, I'll drop it in a heartbeat.