2007-03-04 14:12:53 · 6 answers · asked by Trif C 2 in Business & Finance ➔ Credit
my balances are all 0, but i wan`t to make shure that it`s not going to affect my credit score
2007-03-04 14:21:33 · update #1
Canceling credit cards actually lowers your credit score. It's not by very much but it will appear on your credit report.
2007-03-04 14:23:57 · answer #1 · answered by k_hart100 3 · 1⤊ 0⤋
It depends how many credit cards you have. Generally for one person you really shouldn't need more than 3 cards at max. If you have more than 3 try to keep the ones that have the best rates and cancel the rest. Having too much credit available to you can actually be bad and lower your score since it makes it seem like you might be at risk to fall into debt.
2007-03-04 15:53:10 · answer #2 · answered by acvader 2 · 0⤊ 1⤋
close the cardboard. Do it via letter and request written affirmation that the account is closed and 0 stability. save that written affirmation perpetually. this could nicely be a case the place that closed account ought again to existence and additionally you will choose that affirmation some the place down the line. once you close up a credit card, you decrease your common decrease that should boost your debt to decrease share to extra desirable than 30%, which might harm your score. in case you do not carry balances on different debts, this make no distinction. in fact, because of fact the decrease is in simple terms $250, it nonetheless makes no distinction, regardless of in case you do carry stability on different debts. Closed debts in sturdy status stay on your credit report for no less than 10 years. they do in simple terms not count form as lots on your score as open, lively debts. you in all probability won't even be conscious the version. extremely not sufficient to justify paying annual AND month-to-month costs for that card.
2016-10-17 07:11:34 · answer #3 · answered by juart 4 · 0⤊ 0⤋
Anyone that tells you to close/cancel your cards will not do damage to your scores is wrong. Place your cards in a safe place and do not use them- but do not cancel.
2007-03-04 16:53:30 · answer #4 · answered by kam 5 · 0⤊ 0⤋
Actually, canceling surplus cards will probably improve your score. Just make sure that they are paid off, and then write the issuer requesting that the account be closed.
2007-03-04 14:19:56 · answer #5 · answered by Anonymous · 0⤊ 1⤋
my dad's broker says that its better that you pay down or pay off your credit cards, that way, you have a bunch of open lines of credit of you get in a pinch, ya know? banks, landlords, etc look for that.
good luck.
2007-03-04 14:17:03 · answer #6 · answered by Anonymous · 0⤊ 1⤋