I just paid off two credit cards. These two were the only ones I qualified for at the time of my credit history which was almost three years ago.
amazon (chase) card at 22% barclay card at 22%
I would like to no longer use these two and get one that has a much lower interest rate. I've qualified for capital ones cards at 14% but are there better ones out there for me ? I dont really need the miles rewards as I rarely fly.. just seeing what my best options are
Part two, Should I keep these other two cards "open" ? amazon I only have a 400$ limit but barclay I have 1500$ .. and If i were to close it out what steps do I need to take. I've read closing out credit cards / not using them hurts my credit. Thanks
TL:DR, what card to get since my 22% card is paid off / should I close my high interest card out
dont close any of your credit cards, if you do your credit scores will drop, 40% of your scores comes from revolving debt. keep a small balance on them and immediatley pay the balance off in full so the interest rate does not effect you.