- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
What to do with zero balance store credit cards?
Posted on 9/29/13 at 6:58 pm
Posted on 9/29/13 at 6:58 pm
I have two store credit cards that I just paid off and am not sure if I should close them with 0 balances or leave them open. I am afraid of how it will change my credit score if I close them.
2
Posted on 9/29/13 at 7:27 pm to DieSmilen
Leaving them open won't really hurt. How old are they? If they are old its helping your history
Posted on 9/29/13 at 7:42 pm to Mr.Perfect
One is 2009 lowes cc and one is a 2011 jared cc.
Posted on 9/29/13 at 8:03 pm to DieSmilen
quote:
What to do with zero balance store credit cards?
One is 2009 lowes cc and one is a 2011 jared cc.
If you're a person that has struggled with debt and have carried a balance on one or more credit cards where you have had to pay interest:
Posted on 9/30/13 at 11:22 am to DieSmilen
Cut up the card, but leave the credit line open.
Having those limits available helps your overall credit rating because of the debt/limit ratio. You want that ratio as high as possible.
Having those limits available helps your overall credit rating because of the debt/limit ratio. You want that ratio as high as possible.
Posted on 9/30/13 at 12:43 pm to Mr.Perfect
quote:
If they are old its helping your history
Closing the credit line wont affect this at all.
Posted on 10/1/13 at 9:02 am to LSUTOM07
I was wondering about this too. I have one CC with zero perks and am seriously considering dumping it in favor of a rewards based card.
Is it really true that my debt/limit ratio will increase if I leave a second card open, but never use it?
Is it really true that my debt/limit ratio will increase if I leave a second card open, but never use it?
Posted on 10/1/13 at 10:37 am to fasdit
quote:
Is it really true that my debt/limit ratio will increase if I leave a second card open, but never use it?
As long as that credit line stays open, it will report as available credit to the bureaus.
If you can keep a credit line open without any activity, I would. It doesn't hurt you to have it.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News