Originally Posted by
sdsearch
Lowering the credit limit ASAP is important. Closing the cards ASAP is not nearly as important. You just want to close before you apply again and presumably before the one-year-out AF hits, but there's no indication that BofA will let you apply for business cards "in rapid succession".
I'm referring to the personal card, which the new application has the terms "This card will not be available to you if you currently have or have had the card in the preceding 24 month period. This does not apply to the business credit card product."
This would imply it's best to close the personal card as soon as possible to start the 24 month clock?