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Question By
Chescamonet

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Should I cancel this credit account?
I opened an account with fingerhut on Sept. 2014, been having them for 9 months and only had a high balance of 290, which I payed off by May this year, they increased my credit line and I stand with $1600 credit line with them right now. I just applied for Babies R Us yesterday and got approved of $1200, it hasnt been updated on my credit report, but a hard inquiry from them which leave me with a current credit score of Transunion of 637 and Equifax of 654. I have no purpose or plan to use Fingerhut at all, and I am debating if I should cancel or not.

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Top Contributor
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Just lock the card in a safe place and let it go.  That credit limit is one factor in your credit score because the more credit you have available, the better.  I have three cards I haven't used in a few years, and my score remains very good.

Top Contributor
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As said, don't close it, you would hurt your profile and credit scores.

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