Cut my CC?

For just about anything you want to get off your chest about credit cards.
4 posts
Green Member
Green Member
Posts: 3
Joined: Tue Feb 09, 2010 9:43 am
Location: Ohio

Cut my CC?

Postby b00dha » Tue Feb 09, 2010 9:45 am

CC Pros,

So I'm a college student with pretty good credit (760ish) but have alot of questions still...

I've had a CC for 2 years, and other for 5 months, and I just got approved for a third (Discover w/ $100 bonus).
I don't need my first CC as I hardly use it anymore (much prefer my Chase Freedom Visa Signature)

So my question... I know that cancelling my first CC isn't the best thing, but I have no use for it(no rewards etc); I've never even asked for a credit increase because my Visa Signature is ownage. Should I go ahead and kill my first card or should I ask for a credit increase and just continue to use it periodically?

Additionally, is it safe to apply/receive CC for their bonuses and then cancel them? I'll be in college for 2 more years so I'm not afraid of cutting my credit score to 700-assuming I can rebuild.


Centurion Member
Centurion Member
Posts: 123
Joined: Thu Apr 17, 2008 2:04 pm
Location: White Plains, NY

Postby AnthonyBarone » Wed Feb 10, 2010 1:32 pm

Don't you dare cancel that card. You gotta keep em open, that's part of the score.

Posts: 2
Joined: Sun Oct 10, 2010 10:56 pm
Location: NoWhere, FL

Postby Brad » Mon Oct 11, 2010 10:56 pm

I highly discourage you from cancaling yours oldest credit card account. This will cut your credit length on your credit report down. Why mess with a score of 760? Unless that card is charging a $450+ annual fee, Don't cancel it!

User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Wed Oct 20, 2010 8:48 pm

Agree with Brad, especially since you are relatively new to credit and don't have a long history.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 3 guests