Author Topic: When to Cancel a Card?  (Read 9398 times)

Offline Am

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Re: When to Cancel a Card?
« Reply #20 on: November 21, 2011, 09:30:22 PM »
I don't think they can see how much credit you have with each card individually, only aggregately. Correct me if I'm wrong

Offline bubbles

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When to Cancel a Card?
« Reply #21 on: November 21, 2011, 09:34:45 PM »
I don't think they can see how much credit you have with each card individually, only aggregately. Correct me if I'm wrong

They can see what your CL is on each individual card

Offline Nitantnel

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Re: When to Cancel a Card?
« Reply #22 on: November 21, 2011, 09:46:46 PM »
In summary, I don't see a problem closing a 1-5K CL in a situation where:

1. The purpose is to churn.
2. The individual has an overall high CL.
3. There is a annual fee on the perspective CC.
 

Offline elikay

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Re: When to Cancel a Card?
« Reply #23 on: November 21, 2011, 10:01:27 PM »
@am
I don't know where you're getting your info from, but  the CR agencies see it all separately and it has been mentioned on these pages that both are considered for ratio.

Offline shiframeir

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Re: When to Cancel a Card?
« Reply #24 on: October 14, 2016, 02:13:54 PM »
1) I'm about to cancel one of my oldest cards (SPG consumer Amex from 06), i have a bunch of amex business cards but no other regular cards. if i ask them to switch it to a no annual fee card, will my length of credit continue for amex? should i just bite the bullet and pay $95 (with maybe a lil retention bonus, plus random amex values/sbs) to keep it?
2) If i switch to a no fee amex card that wont go on my record for 5/24 for chase, right?

Offline mochjas

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Re: When to Cancel a Card?
« Reply #25 on: October 14, 2016, 02:58:23 PM »
1) I'm about to cancel one of my oldest cards (SPG consumer Amex from 06), i have a bunch of amex business cards but no other regular cards. if i ask them to switch it to a no annual fee card, will my length of credit continue for amex? should i just bite the bullet and pay $95 (with maybe a lil retention bonus, plus random amex values/sbs) to keep it?
2) If i switch to a no fee amex card that wont go on my record for 5/24 for chase, right?
i would keep it open with retention or if you can do 2 I would do that and it will not count for 5/24. But it seems people are hitting a brick wall with option 2.