Now that I have good credit, If I close my credit cards, how badly would that affect my credit/prob. 4future?

Question

have good credit now and I don't want to screw it, but not worry about having to manage them while overseas indefinitely.

Answer 1

Creditors look at your total credit available, and how much of that credit you re using. As previously stated in another answer, you do not want to cancel cards with good credit history (prompt payment history with no late payments), so rather than cancel those cards simply cut them up. The available credit that is not being used will look much better than simply canceling the cards.

Answer 2

If you ask 10 people you are going to get 5 different answers in most cases.

The truth is that it depends alot on your credit history. In some cases closing credit cards can help your credit, and in some cases in can hurt it.

If you close card that you have had for a long time with a high limit, and always payed on time it could lower your score since you are erasing a "good debt" that you have.

But if you are closing out needless cards that you may hav recently opened it can help yuor credit some ways....

Answer 3

Closing your credit cards will hurt your score, because you are deleting credit history. You are also losing points by lowering the amount of available credit you have available.

I would suggest to contact the credit card company and put a freeze on your account, or at lease lower the credit limit, and freeze the limit. This will remove the temptation to run up your credit charges..

Answer 4

It wont hurt as long as you are going for an extended period. But you might want to link up with an international finances company because you might want one for emergencies. That way you will continue to build credit.

Answer 5

Closing your cards WILL hurt your score. Don't do it. Any cards you don't want to use, shred. But don't close. If you ever want to use the card again, request a new card.