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Keeping any credit card open is to tempting and is viewed as debt 'that can be"
owed by other lenders.
That said, close all cards that you know you don't need.
Haven't you heard that it can drop your FICO score?
Also there is credit history if any of those cards is the oldest you have keep it open for sure.
Now if the OP can't control his spending habits the he should close them.
And also if anyone tries to charge an annual fee then he should close that one.
Just be careful what the credit amount is of the card that you plan to close. Part of your score is influenced by the longevity of your credit accounts and your credit utilization ratio. Paradoxically, closing out a big credit account altogether can negatively impact your score.
Keeping any credit card open is to tempting and is viewed as debt 'that can be"
owed by other lenders.
That said, close all cards that you know you don't need.
Do adults seriously lack this willpower to not use a card because it's open??!
I have 2 credit cards that I know don't use because they offer me no benefits--but because I wish to keep my "available" credit as high as possible. Your debt to available credit DOES affect your FICO score.
Seriously people...even if you need to physically destroy/hide your card not to use it, you shouldn't have to close it to not risk "tempting" yourself.
I was only thinking of closing the raduo shack card because I usualy use it when I need batteries or heaphones. Plus I saw they lowered my credit limit from 600 too 500 and I had no idea.
So when I get to work today, the radio Shack card will be closed
Then and only then open an equal value no fee card to balances to loss of the open credit you had.
Closing cards is not a good thing in most cases.
Open credit is approx. 30% of your credit score.
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