Closing Credit Card

Keeping them also helps with your credit age as well. Assuming none of the cards have an annual fee or minimum, no real reason to close them I can think of, unless you just need the temptation of using them gone.

Keep them open and charge something once a year or do Netflix or small monthly charge with autopay.

I had one for 25 years but I didn’t use it anymore and they closed it themselves, score went down

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Well If you want to get the sign up bonuses more than once you have to cancel and then re-apply. I have never noticed a difference in credit score from cancelling a card every couple of years.

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OP doesn’t read like someone playing the CC game; OP reads like someone who finally got their debt under control and could use credit score boosts where he can get them.

I had 840 credit rating in Jan before closing 3 big bank credit cards…citi, Amex and chase

Opened a new card with my new Bank (Cadence) and run everything I can through it and pay it off every month.

After closing those three my score dipped down to 790s which is still great and will get you best rate on a mortgage but I have no intention of needing to borrow money ever again once my mortgage is paid off in 8 years.

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OP doesn’t read like someone playing the CC game; OP reads like someone who finally got their debt under control and could use credit score boosts where he can get them.

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Sort of. I am not playing the cc game and I did payoff my debt and I have a great credit score.

I was just wondering if keeping all the paid off CCs would hurt me.

creditwise tells me if i close my oldest CC my score will go up +15 points

Does anyone know the credit score formula? I closed a card that I had open for almost 15 years and my score barely moved. I only have 2 other cards plus a mortgage. I was expecting a giant drop. It all seems arbitrary to me.

Credit Cards are great for people who are fiscally responsible