Close Shell Citi Card

[emanon1501]

I want to close my wife’s Shell Citi Card as we do not use it anymore and maybe get a new CC under my wife’s name. The question is, does she really need a CC in her name to maintain her credit scores?

She is on mine CC account and she is also on the mortgage payment. Will that help keep it up?

[photo]

Originally Posted by emanon1501

I want to close my wife’s Shell Citi Card as we do not use it anymore and maybe get a new CC under my wife’s name.

How will the new one be different from the old one that you don't use?

[JustBill]

If she is a responsible party on any line of credit, it should show on her credit reports. Pull the reports for free once per year. Also, if you don't use the Shell card for some reason related to Shell, often times the card issuer can affiliate the card/account with another program without you cancelling one, and having an application on your report. I still contend all this FICO concern is for the birds.

[NewBeginnings]

Closing a cc can affect your credit and why close one credit card to get another?

[emanon1501]

We want to close it because we don't use it anymore and open a regular CC that will allow us to use it at other gas stations or stores.

FYI. We do not carry debts on our CCs.

[JoshuaHeckathorn]

Originally Posted by emanon1501

We want to close it because we don't use it anymore and open a regular CC that will allow us to use it at other gas stations or stores.

FYI. We do not carry debts or our CC.

If it doesn't have an annual fee, I would recommend just leaving it open.

It's a good idea for your wife to have a credit card in her name as well. While her scores benefit from being an authorized user on your accounts, in the long run it's better for her to build some credit in her own name too.

[Mr Nice Guy]

Originally Posted by JoshuaHeckathorn

If it doesn't have an annual fee, I would recommend just leaving it open.

Isn't there a credit utilization ratio? If you are not using it you might lose some points. I'd look into it.

[JoshuaHeckathorn]

Originally Posted by Mr Nice Guy

Isn't there a credit utilization ratio? If you are not using it you might lose some points. I'd look into it.

Closing credit cards is what often has an unintended negative effect on one's credit utilization ratio since available credit is lost. The FICO credit-scoring model doesn't penalize you for not using a card and keeping it at a zero balance in good standing.