credit card

pettybob1 · Joined: 07 Sep 2009 Posts: 37 0.24 Dollars($)

Will closing paid off credit card accounts improve my credit score?

gunzijjistaff · Joined: 07 Apr 2009 Posts: 603 14.18 Dollars($)

Hi pettybob1,

welcome to our forum.

In my opinion,regular payments is the best option for improve credit score than closing you paid off credit card account & improve credit score once.
It will improve your credit score by few points.

Thanks & Regards.
gunz.ijjistaff.

gmakerley · Posted: Wed Sep 16, 2009 7:28 am Post subject:

closing credit cards will have a harmful effect

jveenstra · Posted: Wed Sep 16, 2009 3:12 pm Post subject: Credit Card

George, of course, is correct.
To explain a little further, part of your credit score is determined by length of credit history. If you close accounts, you are decreasing the length of your credit history. If you want to close some accounts, close those opended recently, not those opened a long time ago. But, better to have open accounts with zero balances than closed accounts.

catharin9 · Joined: 14 Jul 2009 Posts: 169 -0.07 Dollars($)

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annyb27 · Joined: 07 Jul 2009 Posts: 142 0.00 Dollars($)

Its contradictory question. It is having both answer depending upon situation.
I will suggest that you should go bye any professional opinion in that as per your situation.

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