Originally Posted by
inagaddadavida
First, I would say don't cancel your mastercard. If you've had that card for 10+ years it will help keep the average age of your accounts higher which is good for your credit score. The card isn't hurting you at all by keeping it.
Yeah, I guess that's a good point as well... I pay all my cards on-time (most of them paid off each month)... rarely carry high balances, and when I bought my house last year, my credit score was 814.
I also have two "Store Cards"... a Home Depot card I applied for about 7 years ago when I had to replace the roof on my old house, and a GE Money Bank/Rooms To Go card, I currently carry a balance on (Zero percent interest until 2014 was hard to resist). I haven't used the Home Depot card since I paid off the roof (that was also a zero interest deal for a certain length of time) about six years ago. Should I consider dropping it, or since it has some "age" should I keep that open?
BTW - In case you can't tell, I recently pulled my credit report to see what's still open and what's on my report.
