Should I close unused credit cards?

I have 4 credit cards. I have not used any of these cards for 2 years. I am presently paying down a debt of $4,000.00 so I don%26#039;t want to incur any more debt. My oldest card is 6 years old and the other 3 cards are 2 years old. I have $11,000.00 - $13,000.00 credit limits on two of them. Should I keep them opened? Thanks

Should I close unused credit cards?

You%26#039;ll get different opinions from different people...

Some say to leave old credit card accounts open because it shows more available credit. If you don%26#039;t charge anything on the old cards, it improves your credit / debt ratio and could have a slightly positive impact your credit score.

Personally, I don%26#039;t like the idea of having open accounts I don%26#039;t use or monitor closely. Think about it: the more accounts you have open, the more chances an identity thieve could get a hold of your personal information and wreck your credit altogether. I%26#039;d prefer not to take the chance!

Should I close unused credit cards?

YEs, its still building up credit, just don%26#039;t use them unless u need too..

Should I close unused credit cards?

If you are currently working on paying down debt, you should close out as many cards as you can to stop spending. Additional credit cards, according to new laws, may actually hurt your credit rather than help it because it is a sign that you may have over-extended yourself. Please close them and pay off your debt.

Should I close unused credit cards?

I have read that the longer the history with the cards you have the better it is for your credit score. Also by closing them it can change your score as well. They want you to use the cards pay them off and so on so your maintaining credit. Honeslty I would at least keep one card in case of an emergency and to help your credit. Also if you pay more then the minimum each month on your debt that will help in the long run as well too!

Should I close unused credit cards?

Keep them open just don%26#039;t use them. One factor that goes into credit scoring is % of revoling creidt available. When you close the revolving accounts the amount of credit limit becomes unavailable thus lowering your score.

Just remember don%26#039;t use the cards after you have them piad off.

Good Luck

Should I close unused credit cards?

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Should I close unused credit cards?

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