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Icon Mini Profile pettybob1





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Post Posted: Wed Sep 16, 2009 6:07 am    Post subject: credit card
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Will closing paid off credit card accounts improve my credit score?
Icon Mini Profile gunzijjistaff
gunz.ijjistaff




Joined: 07 Apr 2009

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Post Posted: Wed Sep 16, 2009 6:56 am    Post subject:
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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.
Icon Mini Profile gmakerley
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Post Posted: Wed Sep 16, 2009 7:28 am    Post subject:
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closing credit cards will have a harmful effect
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Icon Mini Profile jveenstra
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Post Posted: Wed Sep 16, 2009 3:12 pm    Post subject: Credit Card
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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.

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Icon Mini Profile catharin9





Joined: 14 Jul 2009

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Post Posted: Sat Sep 19, 2009 12:13 pm    Post subject:
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Icon Mini Profile annyb27





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Post Posted: Sun Sep 27, 2009 12:40 pm    Post subject:
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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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