Paid off CC's..now what..close them?

[jennifer293]

found this info:

http://www.post-gazette.com/pg/05056/462613.stm

it might be helpful to you!!!

 

[DISworldTravelers]

Thanks everyone for your tips and advice! Some good thoughts to ponder over in this thread. I think I will keep open my longest held account which happens to be the lowest lifetime interest card. I plan on only carrying my debit card in my wallet anyways for daily use and will keep the Cap 1 CC at home. It's hard to use a CC after you've paid it off, I am finding that out! thanks again!

 

[pjlla]

I'm surprised no one mentioned this, but you can keep your cards and lower the credit limits. We decided to stop using a particular card, but wanted to keep it open. But I didn't want the temptation of a large amount of credit available. So I called and had them reduce the credit limit to about $1000. Hard to get into much trouble with that, but good for emergencies. (Not sure how this reflects on our credit score, but we have never had trouble getting credit.) The only card we keep a large available balance on is our SWA Rapid Rewards Visa. We use it for almost everything and that way we earn our tickets to WDW!! ...................P

 

[cobbler]

pjlla, I was just thinking the same thing. I have a few credit cards and I sure lowered the limit on them once I paid them off. That way I keep them open, show history and can't get into to much trouble.

And also if you do close a credit card it does show who closed it. I had closed several in the past, shortly after graduation of high school and got myself into trouble. Well just before they were to drop off I did pull a credit report on me and it did show that I had closed them.