I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero bal

I have been told in the past that closing the credit card account negatively effects your credit score.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

keep them open if you close them your credit score will plumit. The best thing that you can do is pick one credit card use it and pay it off everymonth. If you do this your credit will be out standing.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

That is correct. Don%26#039;t close your account once they are payed.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

You can%26#039;t close a credit card account until you pay it off. It won%26#039;t be %26quot;officially%26quot; closed until that account is paid off.

My advice is to tear up the cards and pay off the debt. After it%26#039;s paid off, close the accounts UNLESS you plan on purchasing a home within a year. If so, leave it open.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

Keep the accounts open. Do not close them because this will decrease your available credit which will in turn increase your debt / available credit ratio and, like you said, this will lower your credit score a little.

Keep them as emergecy funds and lock them away.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

Add up your max credit limit for all yuour Credit cards.

Divide that amount by the annual wages you take home.

If the amount is greater than 0.60 , you need to close a few accounts.

Work with closing the credit card with the least history first.

Also factor in the interest rate.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

Close the account. If you no longer need the card, you may end up paying charges for keeping the account open. It%26#039;s not like a checking account. You will also be safer from fraud.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

An account being closed by the consumer does not negatively impact the credit score. And having too much open credit can negatively impact the score.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

For best score continue to use them, pay off balance at end of every month. This supplies continuous evidence of liquidity.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

No do not close the account, your best move is to just leave the credit cards with a zero balance.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

closing the account after paying in full will not negatively effect ur credit. however, keeping the account open after paying it in full will have a positive effect. those companies will report to the credit bureaus each month and u will receive a positive rating. keep it open. if u dont need the cards destroy them so u wont be tempted to use but dont close.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

If you really are paying off all of your balances, then you can close some (but not all) of the accounts without affecting your credit score. Just make sure you keep open the one or two cards that you%26#039;ve owned the longest. That will ensure that you won%26#039;t reduce the length of your credit history by closing cards.

Because you have a zero balance, the other big negative to closing cards - which is increasing your debt-to-credit-limit ratio - won%26#039;t affect you.

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

you only need to have one rolling payment open such as car payment or one credit card.....you will lose minimal points to your credit score when you close the cards but if you keep one open and use it monthly and are paying it on time your points will go back up. it makes it worse if you keep them with a zero balance because then they are just sitting and you are getting nothing out of having them....keep the one with the longest history (open since 2003) that way it shows that you still have the card and are using it. only use about $50 to $150 monthly...you can just use it for groceries and gas and when the bill comes in you already have the money in the bank to pay off the whole thing........make sure you don%26#039;t spend all your money in the bank because then you will end up owing more than you want...good luck and congratulations on getting your finances in order...not too many people can do that..

I am going to pay off my credit cards. Should I close the accounts or keep them open with a zero balance?

If you have ten that you are suddenly closing it might show badly. Then again if you have ten out there then there is a diffrent issue. Never heard of that effecting your credit badly so close it if it%26#039;s not needed. Some companies charge something for having it open in general.