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Does closing CC accounts hurt or help credit score?

Posted on 2/22/15 at 12:16 am
Posted by KJason
Baton Rouge
Member since Mar 2008
1199 posts
Posted on 2/22/15 at 12:16 am
i have 4 credit cards that are between 6 months and a year old. Is it better, for my credit score, to leave them open at $0 balance or close them?
Posted by jimithing11
Dillon, Texas
Member since Mar 2011
22472 posts
Posted on 2/22/15 at 2:55 am to
I usually keep them open.

I would only cancel if you are paying an annual fee. If you have something like a chase freedom, I wouldn't close it. Just keep it open and buy a pack a gum on it 1-2 times a year to keep some activity.

If you're dead set on canceling, make sure you don't cancel the card you've hard the longest. That will mess with your average history
Posted by Weaver
Madisonville, LA
Member since Nov 2005
27722 posts
Posted on 2/22/15 at 7:06 am to
Agreed with everything. I just opened a stein mart card cause I basically saved half price on a nice Ralph lauren suit. Just gonna leave it open for a while. I have three others, one of which I hadn't used in forever.
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