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Closing Accounts ????Closing Accounts ????
Richard1234 said: "I was wondering, closing a existing CC account with a 0 balance will improve or hurt my credit scores? I've had 2 major credit cards for more than a year with ontimely payments and decided to closed the accounts....."
David said: "when you close any trade line in good standing it always hurts.
If you keep the trade line and just dont use it.. works to your advantage.
One day you might find out that the card you never used suddenly has 10K on it LOL"
David said: "when you close any trade line in good standing it always hurts.
If you keep the trade line and just dont use it.. works to your advantage.
One day you might find out that the card you never used suddenly has 10K credit line on it LOL"
credit_card_collector said: "Yes but sometimes (I know Chase / Bank1One does this) will close inactive accounts and / or charge you a monthly fee for inactive account, not only might these type of fees add up and cause a overdue balance because you 'think' you have a 0$ balance and the late payments would hurt your score but also if they decide to cancel you due to no usage this would hurt worse then the closed account in good standing? Right? :confused:"