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Old 09-22-2008, 09:05 PM #1
NateA
 
 
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Join Date: Nov 2002
 has been a member for 10 years
How long to keep credit cards?

I have been told it's not good to pay off a credit card and then close it after paying off my balance for atleast a year? Just wondering if anyone has heard of that? I have a home depot and a zales both are paid off now. Should I keep them open for a little longer?
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Old 10-15-2008, 12:10 AM #2
Loony
 
 
Join Date: Apr 2006
Location: O Fallon, MO
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I know this is old but for anyone else who might read this.

Closing your credit card hurts your credit score. Paying it off helps. Use your credit card atleast once a month and then pay it off before you get charged interest.
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Old 11-14-2008, 12:26 AM #3
t_mo (Banned)
 
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Location: Boston
 has been a member for 10 years
Just leave it open.

If you have no balance its not costing you anything?
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Old 11-18-2008, 03:26 AM #4
rdm3000
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Join Date: Dec 2004
Location: eatbabies
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If there is no annual fee or charges for not using it then just leave it open.

If there are either of the above than weigh the cost vs benefits and decide for your self.
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