Question

When you have paid off a credit card. do you recommend keeping it open and not using it, or do you recommend closing it out? My goal is to improve my credit score.  

Answer 1

Personally, I wouldn’t close it. I closed all my cards in 2004 after paying them off and my credit took a huge hit. The economy also declined and it was very hard to regain any credit. So for me, I’ll be keeping mine open and use with paying off within the same month.  

Answer 2

I think if you close it it will drop your score. I am not positive tho. Does it have a fee?  

Answer 3

If it doesn't have an annual fee, wrap it in wax paper, put it in a ziploc baggie, add water and put it in the freezer. You'll have time to think about using it, while it thaws, before you actually can use it.  

Comments

@stalwart unless you’re shopping online. Then you just need the numbers.  

---

@leavening99 tape 'em up so you can't see them before you freeze them  

---

@noheminoil50570 I am too sneaky- I have copies in my safe keeping and the credit cards saved on all my apps ‍♀️. In Canada we don’t have ‘debit cards’ like you do in the USA. I need to use them for my business flights, hotels, car rental etc. But I have to find a way to manage them better.  

---

@leavening99 I know what you mean. I have my numbers memorized‍♀️

---

@slub94 wax paper so you can't see the numbers  if all else fails and you realize self control just isn't working, shred it and call once a year for a replacement card use it on a purchase you already can payoff then shred it again and wait until next year, repeat  

Answer 4

If it doesn’t have a fee, is an account you’ve had for a long time, and you’re disciplined enough to not use it-then leave it open. If it has a fee, is a newer account or you’d be tempted to use it again, close it

Answer 5

I still kept all of mine open. I locked the ones that gave me that option so I couldn’t swipe it and I leave them in my safety box at home. I do go out and purchase a tank of gas every 6 months or so so it doesn’t close on me, and my credit score has dramatically improved.  

Answer 6

To improve your score do not close it. Charge a tank of gas or something smaller 1x a month and pay it right off.  

Comments

I wish i knew that before i had closed all 4! :(