I was given very poor advice after my BK to apply for lots of cards and rebuild with them. Now I want to close them but I'm afraid it will hurt my score. What should I do? Is there any time frame that it is safe to close them? They are paid off. I have (embarressed here) Future Card opened 1-00, CL $1000 Centennial Card opened 7-01, CL $550 Providian opened 4-99, CL $800 Capital One opened 10-01 CL now $1200 Cross Country opened 12-01 CL $350 I definately want to keep the cap one because they treat me the best. How will closing any or all of the others affect me. Thanks again, Kim
OK, Good point Future APR 18.9, Participation fee $5 monthly, no annual fee but $5 to make an online or phone payment. Centennial same thing Providian APR 27.99, no annual fee or monthly fee Capital One APR 12.99, no annual fee Cross Country Bank APR 20.99, annual fee $50, looks like they charged me $3 when I made an online payment. Thanks for your advice, Kim
CAPITAL ONE~~~KEEP CCB, FUTURE & CENTENIAL~~~DUMP (because of payment fees and annual fees) PROVIDIAN~~~KEEP??? (because it's your oldest, and NO fee)
If the ANNUAL fees are already paid...wait till 30-60 days before the year is over~~~if you pay per month...CLOSE THEM TODAY!!!
I agree with George. Keep Capital One and Providian. Close the others, though you may not want to close them all at once. Depending on your scores, you may want to try for some new, better cards to replace them.
My scores are still only high 500's-low 600's. Do you think it will have a positive or negative impact when I close these accounts? I can't get any real cards because I have a 3 year BK.. Kim
You debt to credit ration could be an issue there. All those accounts and nothing on them. Maitain a managable balance. smething you can my off withing 2 weeks in case of an emergency and keep it constant. You have all these account but are not generating a payment history.
I've generated a payment history. I just paid them all down to low balances with my tax refund and will pay them off this week. Sorry I didn't make that clear. I didn't think we were supposed to completely pay them off at once for some reason.
