Is it really that bad to close a card I never use?
Jul 11, 2015 | 1:25 pm
#16
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,745
My opinion too is to close cards that one does not use. My score is above 800. I see open cards as a risk for additional frauds. More windows to keep watching for what? BOA also is very nosey and will continue to do soft pulls, even if you do not use their card. They are the worst bank one can see. A large inefficient organization. I had the Schwab 2% cash back. It got sold off to FIA (no apps, horrible web site) and did not mind it first. FIA is owned by BOA. Soon, BOA took it over from FIA. I immediately dumped it after a year. They messed up the login during the transition. Luckily I had it on autopay. Many of my friends who used to log in and pay could not and the late payment went on to their credit file. BOA is as inefficient company as one can get. I added a FIA card (1.5% Fidelity card) that I am tolerating. I would have made the Cap one QS my main card, but my CL on that is a measly $12.5K. Several of my cards are $35k and above. Nothing under $25k cuts it for me.
Also, SP doesn't affect your score and likely won't result in any AA unless you're having issues with your other credit lines (late payments, utilization close to the maximum, etc.) BofA might not be a good bank for other reasons but their credit handling is in line with others.
