That's a good question. I'm not sure what is the answer to your question. I'll do some Googling and get back to you if I bump into an answer. You should email the people at Discover Card as they probably can answer it..

I think this is different from MB82X question....your cards are still open, if though you cut them up and tossed them....you can still call, and they will send you new ones..

I am no expert on this, but I think they do age, even closed....so, you cards would be 3 years old, not 1....perhaps somebody who knows this for sure will chime in..

VK..

I'm glad this thread exists. I posted a thread in Canadian Credit yesterday, but that forum is pretty dead at times and still no response. I know things might be a little different up here, but I'm sure the basics are the same..

I stupidly opened an HBC in-store account while shopping there just after Christmas. I just got sick of the cashier asking...every...single...time I go there "If you apply for an HBC Discover card I can give you 10% off right now!!!". There was nobody in line behind me, so I finally gave in and after a few questions they approved me on the spot for $1k (cue a rolleyes and head-shake after using my empty $17.5k Gold Discover Card as a reference. Not that I cared or wanted more, it just seemed funny to me). I received the card in the mail about a week or so later..

It's already reported once to the 2 credit bureaus in Canada (EQ and TU). I only used it twice and paid it off a few days after the charge hit my account..

It offers no benefits and is just one more thing I have to keep tabs on. There isn't an annual fee, but I really don't want it..

Other than the hard inquiry at TU, which I don't really care about, is there any reason I should NOT close this account? How will closing it affect my report? I know I already took a small ding to my score because of the hard hit and the new account on my report. Will cancelling it reverse at least part of that?..

As long as you don't need the $1k CL to help for utilization purposes (probably not) then closing it will have no affect on your score good or bad. The damage from the inquiry and the new account is done. Open or closed doesn't matter at this point. I don't know what your average age of accounts is so no telling when it will become a positive thing on your report. Probably right before it falls off on it's own. hahah..

Don't know what's haha about it, but closing the card will not do you any good.....it's not going to reverse any damage that's already done...best thing to do here for you would be just stop using it, and put it in the drawer...don't close it yourself, however, if they do close it for inactivity, then so be it..

VK..

Thanks for the replies fellas. I appreciate the advice..

I don't need the utilization and the lost hard inq and new account don't bother me. What concerned me a little bit is that I've been led to believe that having a few store cards looks good on your report and can help your score. Normally I don't run my life by my credit score but I'm considering an auto loan in the summer and want to ensure my report looks as good as possible..

But if the damage has been done and there is no drawback to cancelling it then I think I'll just call them on Monday and have it closed. I really don't want an open account that I don't use. Like I said, it'll just be one more thing that I have to keep track of..

Just out of curiousity - Would a potential creditor in the future see the hard inq from HBC and then wonder why there isn't an active account showing for HBC? Would they assume I was declined or something?..

I have two installment accounts from 1994 and 1995 (paid off in 96 and 97) that are still reporting on EX. That's 13-14 years. Crazy!.

Only good things I have going for me are those and a closed revolving from 2001. I bet that falls off soon...