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JohnnyOnTheSpot360

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Should I close brand new, never used store credit cards?
I recently used the shopping card trick to obtain a handful of store credit cards in hopes that the additional credit would decrease my overall utilization and ultimately help my score. Little did I realize all these new accounts actually made my score drop by about 50 points! This is due to to my average age of credit history dropping down. If I decide to cancel this accounts immediately will they still contribute the average age of credit history?

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If you have applied and they approve the cards, those will show on your  credit report.  Do not cancel them.  If you choose not using them, just keep them locked in a safe place, but do not cancel them.

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Now that yo have those cards, Even if they were not used, You should keep them. If you don't plan on using them then put them away and don't use them.  The Damage has been done. But if you don't run up balances on them they can play to your benefit in the long run.  Your correct that all the new cards have hurt your score.  The inquiries will not go away for 2 years. The age of your accounts will stay low because the accounts will still appear on your report even if closed.

if you don't use the cards Your score will stay low for a few months but you should see a rebound in a couple of months as long as your utilization is still low.

Learn the lesson and learn a little more about how this all works by reading the articles and clogs here on CK. Thats what this site is for.

Good luck

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Thank you! I really appreciate what you guys do here! On the bright side at least they were all soft pulls so I dont have to worry about the inquries and I did recieve a $2,500 limit on one of them. Last march I had no credit history whatsoever (only a derogatory mark) and was forced to open 2 secured cards. Now my score is up around 700, largely thanks to all the valuable information I have gathered from this site.

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I'm sorry, I did forget to mention that​I have yet to register any of these cards. All ive really done is apply. Will they still appear on my report if I never register or sign up on any of these sites? If so, how long until they do drop off my report?

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