I've got some subprime cards I'd like to unload, but when is it safe? If I closed them all (they're oldest) then my new cards are the only ones open and that's not good, right? Do you have to have one older one open all the time or does it look ok to be on there but older history? Make sense?
How old are they? It depends if you have gotten any decent cards lately. I have 5 subprime cards that are 1. 0 to 1.8 years old. I have just recently got the gm card, corevette card, bestbuy. All with no annual fee. I have closed 3 of those 5 in the past month. I have a couple coming up on there 2 year anniversey. So its up to them to give me a good deal. I have to admitt it feels so good too close sub-prime crap cards. They dont even give two craps if you close they account. Just ask why, and close it right away. Whats the point of having sub-prime crap with super low limits. you mite gain 10 points if you keep them open over time. Ask yourself if its worth the high annual fee, crappy apr;s, shitty service for a few extra points.
I think you are missing the reason behind my question. I don't care about keeping them for points, I am wanting to avoid the point loss when they are closed. My dh paid off a ccb and closed it (it wasn't an old account) and his score dropped 20 pts! It didn't affect his utilization either, it only had a 450 cl or something like that.
20 points sounds way too high...BUT WITH RNG...WHO KNOWS. That is 3 times more than I get "HIT" with, per INQUIRY!!!
Re: Re: When is it safe to close a card? RNG? I know I know, look it up. Gosh you sound like my dad when I was a teenager asking how to spell something! lol Yeah we were shocked!! I have a couple subprime cards I want to close too, but am I understanding right that I need to leave the oldest open?
