No. of Recommendations: 2
(1)Should I close my current card and then apply for a new card?
(My balance is $0.)

I only have this one card so when I close it, I won't have a credit card. I can live without a cc for awhile but don't know how it would look to a creditor when I apply for a new cc and don't have any open cards. I have several ccards on my credit report -- ones that I closed first and paid off.

(2) Or is it better to get a new cc first and then close my current card?

I just don't know how either of the above actions will look on my credit report. I'm paranoid that something negative will show on my credit report because I handled this the wrong way.


Just another possibility - apply for another card and when you get it, cut the WF card up, but leave the account open just so that you will have it on your credit report as an older account with a good history. I believe that I've read past posts (and maybe someone else can help clarify this) of people wanting to close some accounts and asking which ones, and it was recommended to keep the older cards if the rates and such were acceptable. I know you are saying that WF's rates and such are not acceptable, but having the open account doesn't mean that you have to use it - just let it sit there with a 0 balance forever. Now, if you are afraid that you will be tempted to use that line of credit just because it is there, then by all means, close it out.

wlr35
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