- Centurion Member
- Posts: 179
- Joined: Fri Apr 12, 2013 4:47 pm
- Location: Indianapolis, IN
I agree with 432521; if I get a sucky card, I just keep it open since I already app'd for it. Plus, a positive credit line that's closed stays on your report for a few years anyway, so why not keep it as a backup? If the limit is decent, it's nice to have another CC company to work with in case of weirdness.
For example, most of my banking is with Chase. For about 12 hours one day, none of my Chase cards worked, including credit and debit. My friends were also having trouble. If that was my only company, I'd have been screwed. Luckily, I also had my Discover and Citi cards with me, so it was an easy fix. This is a great thing to have when traveling, as well as just for emergencies. When traveling, I keep a credit card in my suitcase in case I lose my wallet when I'm out. I also keep a credit card hidden away in my car for the same reason, and $50 in my wallet just in case all else fails.
There are a few reasons to keep an open line open. However, if you have many other options, no big deal. I hate wasting an inquiry though.
Scores on the mend...
FICO: 650 (Discover/TU, 6/23/2016)
Cards I Use Citi Double Cash, Chase Amazon, Capital One QuickSilver
Sock Drawer Discover IT, Citi Diamond Preferred, AE Visa, QuickSilver One, Walmart CC, CareCredit, CreditOne (keeping for history for now)
Short Goal Reach 680