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closing credit cards = bad for credit?
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aliwnec10
mom of 3 boys
Member since 4/06 11426 total posts
Name:
Ali
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closing credit cards = bad for credit?
is closing credit cards bad for credit? meaning ones that were merely opened for 12-18 months on a 0% card to pay off debt? Can I close those when done?
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Posted 6/12/16 9:00 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
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closing credit cards = bad for credit?
Never close.
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| Posted 6/12/16 9:15 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: closing credit cards = bad for credit?
This was discussed last week:
http://www.lifamilies.com/chat/topic.aspx?ID=876780
Basically, since it is a relatively new card, closing it won't affect your score at all. You don't want to close your oldest card(s) if you can avoid it, to keep your credit history longevity.
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| Posted 6/13/16 7:31 AM |
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aliwnec10
mom of 3 boys
Member since 4/06 11426 total posts
Name:
Ali
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Re: closing credit cards = bad for credit?
Posted by GoldenRod
This was discussed last week:
http://www.lifamilies.com/chat/topic.aspx?ID=876780
Basically, since it is a relatively new card, closing it won't affect your score at all. You don't want to close your oldest card(s) if you can avoid it, to keep your credit history longevity.
Thanks!!!
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| Posted 6/13/16 8:15 AM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: closing credit cards = bad for credit?
There's no reason to close the credit card. It's better to leave it open and just not use it. It will automatically close after a few years of non-use, which is better for your credit.
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| Posted 6/13/16 2:50 PM |
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