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I just maid a mistake and opened another card! Please help


turkish
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Well I just opened an account with amex blue card. I think it was a mistake. What can I do about it. Can I call them and inform them that I maid a mistake and would like to close the credit card account and have it removed from my credit history! Or should I just close it? Or leave it open. I plan on buying a house in 8-10 months so I dont want anything to hurt my credit history!

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I would keep it! First of all, an AMEX account makes you a bit more "attractive" to lenders because they are more selective than most.

Secondly, it will decrease your utilization %; which increases your score.

Thirdly, you already have the inquiry on your report; but, by the time you go to apply for a mortgage, the inquiry will be more than 6 months old. After 6 months, inquiries lose some impact. Today, it may cost you 5 points; after 6 months (as long as you have no other inquiries) it may only cost you 2 points. After a year, it costs nothing. For now, and the next couple of months, you may see a drop of about 5 or 6 points.

The only drawback I can see is that it may reduce your average revolving debt experience. But, if you have a long history, it won't hurt that much; if at all. Unless your util is below 15% already, I think it's better to keep it.

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Whats your opinion on my NEiMAN Marcus and Bloomingdale's credit cards. THe neiman marcus has no balance and i've never used it? Bloomingdales has no balance on it, but I've used it and I've had 3 late payments on them dating from jun 2002 to feb 2003! I also have three other open but in good standing!

I would keep it! First of all, an AMEX account makes you a bit more "attractive" to lenders because they are more selective than most.

Secondly, it will decrease your utilization %; which increases your score.

Thirdly, you already have the inquiry on your report; but, by the time you go to apply for a mortgage, the inquiry will be more than 6 months old. After 6 months, inquiries lose some impact. Today, it may cost you 5 points; after 6 months (as long as you have no other inquiries) it may only cost you 2 points. After a year, it costs nothing. For now, and the next couple of months, you may see a drop of about 5 or 6 points.

The only drawback I can see is that it may reduce your average revolving debt experience. But, if you have a long history, it won't hurt that much; if at all. Unless your util is below 15% already, I think it's better to keep it.

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