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bartosgabo

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I opened some cards at clothing stores. My Husband says it's a bad idea. Should I close them?
My credit history is short (2.5y) because I only recently moved to the US. My husband is trying to help me build my credit, and when he found out that I had accepted offers of credit cards from Gap and Banana Republic he was unhappy -- he thinks they may not be good cards to have. However, he's not sure if we should close them immediately, because that also may negatively impact my credit. Can you help advise as to whether it's better to leave these cards open (and unused?) or close the accounts?

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Put them in lock box

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Having available credit is good for your credit score, as long as you use it wisely, which it sounds like you are doing.  You could put those store cards in a lock box until either the store closes the accounts (mostly because you weren't using the cards) or you get another universal type card with higher credit limit, which will happen sooner than later. Then you can cancel them out totally.

In the future, I advise not getting any store cards just because of their limitations (using them in only one store).  But you are just getting started, so  that's okay.  Try keeping your credit cards paid off every month. 

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