Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
Is it bad to cancel the credit card? Well that depends on a number of things but as dfm said usually it's best to keep it open if it's not costing you anything to do so. As far as more premium cards, you may be surprised to learn that Discover's credit score requirements
are actually quite rigorous and often times stricter than American Express. Even though it is a student card now, once you graduate my guess would be that Discover will switch it to a regular More card for you which is not always easy to be approved for these days.
But going back to the potential impact and whether it will be bad for you to cancel your credit card, I think you will find this post helpful: How does closing a credit card affect your credit score?
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:
MorePrimary Everyday Card: American Express Blue CashPrimary Travel Card: Chase Sapphire Preferred