Comments on: Close them or keep them open?

By: Vinny Financio

Vinny Financio — Mon, 12 Oct 2009 21:23:13 +0000

I closed all mine (3) once I paid them off. My score did not drop at all. I still (at the time) had a mortgage, car payment, and student loans so that may be part of the reason why it didn’t dip.
For whatever reason, both my wife and I noticed NO change in our scores after closing ALL our cards.

I was looking for it but it never happened

By: financia

financia — Tue, 01 Sep 2009 16:32:21 +0000

I agree with Debt Dad. If your not going to use them I would close them – less junk in your life to think about & less temptation to use them.

Though if you want to preserve your credit score dump them one or two at a time.

As far as the party….Heck yeah! Your winning celebrate! Drop the accounts and save cards for the party

By: Debt Dad

Debt Dad — Fri, 14 Aug 2009 20:14:52 +0000

Close them. Don’t use credit cards and the score won’t really matter. Don’t keep the temptation around. It’s not worth it.

By: Tom D.

Tom D. — Wed, 12 Aug 2009 11:40:16 +0000

I wouldn’t close them. If you close one or more your existing rates will probably go up making it tougher to get rid of the rest of your debt. Keep up the good work though, it seems like you’re really making progress doing what you’re currently doing.