- Centurion Member
- Posts: 235
- Joined: Tue Mar 12, 2013 10:10 pm
- Location: United States
Overall, if you're not paying fees, as others have mentioned, the only harm is keeping them active and avoiding fraud. I'd do a back-of-the-envelope on how shutting some down would effect your overall line and AAOA. If shutting some down wouldn't really hurt you on those fronts, and you don't have the energy to remind yourself to use them once in a while or monitor for unauthorized charges, you may not suffer from shutting them down. It also depends on your credit diversity. If you've got major accounts like mortgages, car loans, student loans, etc. that are reporting and in good standing, shutting down a credit line won't hurt as much or for as long as if you were a renter with no other credit accounts (also, should you be a renter, ask if your LL can report your on-time rent...because I use TU for screening my tenants, I have the option to report for them, and I do if they ask for it).
Target Visa $1.5K