I would like to close 4 credit cards($0 Balance)but my friend said that it will hurt my credit, is i

It will have a temporary hit on your score. But having too many is also bad, because it makes it look like you have too large of a credit line.

If you must cancel them, do it slowly. One card every 3-4 months.

I suggest to visit the home site for the folks that developed the FICO scoring method that creditors use to evaluate you. They have an educational area that does an excellent explanation of this topic, and can give you lots of other advice to improve your score.

Go to http://www.myfico.com

I would like to close 4 credit cards($0 Balance)but my friend said that it will hurt my credit, is it true?

One open account is better than four closed ones, as far as credit is concerned. Close three, keep one open.

I would like to close 4 credit cards($0 Balance)but my friend said that it will hurt my credit, is it true?

One of the things that effects your credit rating is the ratio of credit you have vs. the balances. It shows discipline that you have lines of credit that are not maxed out.

I would like to close 4 credit cards($0 Balance)but my friend said that it will hurt my credit, is it true?

Yes, but you could, maybe close two of them, if they all have a $0 debt on them.

I would like to close 4 credit cards($0 Balance)but my friend said that it will hurt my credit, is it true?

Yes. Don%26#039;t close the account. Just pay it off and leave it there. Don%26#039;t use them anymore though. But don%26#039;t close account. Having available credit is very good at all times.

I would like to close 4 credit cards($0 Balance)but my friend said that it will hurt my credit, is it true?

If the cards do not have any annual fee it is okay to keep them open. Its shows you have a low debt ratio. However, if they have annual fees attached to them then it doesnt make sense to keep them open, close them. Just make sure that you report it to the credit bureau that you closed them due to %26quot;consumer request%26quot;. Inform the credit card companies in writing as well.

I would like to close 4 credit cards($0 Balance)but my friend said that it will hurt my credit, is it true?

Close the ones with an annual fee. Keep the others open and cut up the cards. It%26#039;s that simple.