Closing Cards

[coolerscouter]

I currently have 11 cards and am looking to close the cards that I don't use. I am mostly worried that I'll neglect one of the cards and cause it to become overdue.

My main concern about closing cards is the affects to my AAOA (currently at just over a year).

Is it better to be closed by the consumer or the issuer? (ie should I just let them close on their own or close them myself)

Thanks.

[frostbolt]

I am just being logical but I would assume that you initializing the closure would look better on your reports than it saying closed by lender.

[mendelssohn]

A lot of people make a small purchase, like a pack of gum, every few months and pay it off before the statement cuts just to keep cards active. Personally, I would do that before closing any cards. If you do it this way, you just need to track the cards you use regularly and can pay off those small purchases as they are made.

[Fuerza]

If your AAOA is only a year I would think it wouldn't really matter. The accounts are supposed to stay on your reports for 10 years after closing. I personally have closed by consumer accounts the still report that were closed in the 90's.

[cv91915]

This stuff isn't that hard to keep track of with some recurring monthly reminders on a calendar app (or I just use Google's calendar). Excel is also one of my partners in crime for keeping track of this stuff. Different strokes...

[BobWang]

http://creditboards.com/forums/index.php?showtopic=477966&page=3&do=findComment&comment=4856785