Closing Credit Cards?

Question

Does closing inactive zero balance credit cards hurt your credit, or is it better to keep them open? I have three credit cards and a gas card that I never use and considering closing.

Answer 1

Closing them will hurt your credit score... leave them open and just put the cards away somewhere

Answer 2

Part of your credit score is how much debt you have vs. your available credit. So technically, closing those accounts, especially if they have been open for a while (the age of the credit) would bring down your score. BUT, that being said, having a ton of open accounts is not good either even though it gives you lots of credit. Someone else already said that....but it is more to monitor, and more to keep track of if the information ever gets stolen. If you don't use it, I would personally close them even if they will bring down your score.

Answer 3

I say leave them open what if you wanted to buy a new home you have good credit score or stay at hotel now a days they want a credit credit to stay there its up to you best of luck

Answer 4

Your credit if affected by use only, use credit well and often, you get good rating, use it badly, your score will suffer.
Cancel any cards you do not use, it is just more stuff to remember to cancell if your wallet is lost or stolen.

Answer 5

It's better to close those accounts because they just represent potential debt.