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Originally Posted by DarkFury
Honestly, if you don't really need the card, why keep it? Some of them are just more of a hassle to keep track of.
For me, having 2 Credit (and 1 Debit) card is quite enough (along with the other lines of credit I have that are established...)
At least with the current economic situation, I have seen a reduction in the amount of "Hey please sign up for our credit card" spam in my mailbox.  |
Like I told them in my request, that card *was* the 2nd card in my wallet. No, I didn't use it, but, it's good to have a back-up in case the 1st doesn't work for whatever reason. As far as other reasons for keeping it, see my 1st post.
This probably won't impact me materially. My 797 credit score might drop 20 points (just guessing) which isn't any different as far as rates go. But it does matter to me. I'll probably be in a good position to purchase my move-up home within 5 years (guess who *won't* be servicing my loan). I've only heard that a lot of people were getting warnings of account closings; I expected the same courtesy.