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kbg30

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2 People Helped
Cancelling a new credit card- recently got better cards
After working on rebuilding my credit, I got a pre approved offer for a GM buypower card. I got approved and that was my 4th card. My other cards are all 7 years old and are in great standing now, just have old negative history that will fall off. I got brazen and applied for the Discover IT card and got it! I didn't think I would but got excited. Fast forward 6 months, I applied for the Delta Gold Skymiles card this week and got it with a 680 score. My CL isn't high, only 1K but I've always wanted an AMEX. I don't really want the buypower card and don't plan to use any of its rewards (leasing or buying a GM card). My CL's on my old cards are all over 3K, Discover is 2K (waiting for the 6 month mark to request a CLI) and my Amex hopefully will increase 3X after 61 days. Should I keep the Buypower card or cancel it? Will it hurt my score? The limit on that card is 1K. I believe they told me they would do a hard pull for a CLI.

Thanks!!

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This could hurt your utilization so I dont close cards unless I have no need for it and it has a annual fee.  You already took the hit for it and I don't think that, that card has a annual fee so I would keep it open.  Just use it every few months.

Top Contributor
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Any time you close a card, it can hurt your score.  Please re-read the articles here to refresh your memory on this impor tant issue.

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