What is the best way to close my credit cards that I don’t use anymore?
I have a good credit score number, however, too many open credit cards with good history. Does it matter if I just close them? And what is the best way to close them?
Tags: anymore, Best, Cards, close, Credit, Dont
DO NOT DO NOT DO NOT close your credit cards.
if you have a credit card for 5 years, and close it, you lose all that good history from the card. you gain nothing from closing a credit card, just put it in your sock drawer and forget about it.
http://www.creditboards.com
I have been in the same situation that you are in (a few years ago). Your accounts that you don’t use that you have a good histroy with are helping your credit. Try to keep at least 3 good accounts open, the older the better. The other accounts you can close down by calling the company and requesting to close your account. They will encourage you to keep the account open. Unless they offer you a very good deal, shut it down.
Don’t close them…just don’t use them
Bad answers here. Having numerous credit cards affects your credit ratio, which affects your credit score.
Basically, they don’t want you to have access to a lot of credit; it makes you a credit risk.
Here’s how to close the cards with a minimum of hassle:
http://www.bankrate.com/brm/news/dollardiva/20010604a.asp
I have good credit and have had for some time. When you decide to close an account, you call the company and tell them to close it and ask them to send you a letter stating that. Always keep a file for all of this stuff. I also keep a listing of all the credit cards I have, cc #, lost card #, and I mark the ones in my wallet. Never carry all your credit cards. One time I had my purse stolen out of town and so I got a friend to go over and cancel all my cards immediately. I do keep several cards with low interest and use them for business loans and a different one for personal.
You can call your credit card company and close them, but it’s not a good choice. If you don’t want to use them ever, cut them up and leave your credit line open. By closing the cards, it will lower your credit score. I just talked to a financial person on this very same matter.