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Credit card quest/opinion- quick help needed!!

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  • Credit card quest/opinion- quick help needed!!

    Hey guys- i was wondering your thoughts on this:
    I have some credit cards that i opened a little while ago- for a one time purchase and i dont plan on using them again. I have my main ones (that are always paid in full) but some of these were opened for the bonuses and stuff...i know i know... anyways my question is :

    is it better to close them all even though theyve all been opened for less than a year or just keep them opened but inactive? And if so for how long?

    I guess in terms of credit score and everything and damaging my credit.

    Thanks!!!

  • #2
    If you already (really)determined to close some CCs, do it as fast because closing CCs with long history hurt more according to my study (not from my experience.)

    You may ask your main CC company to increase line so that you can compensate your lost of max line of credit (due to closing CCs).

    Good luck

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    • #3
      I'd say close the cards you don't want or need. No reason to keep them. Plus it gives more opportunity for identity theft. Last year, I suddenly got a bill for a purchase on a card I hadn't used for ages. It was fraudulent, of course, and I got it taken care of but it was a big hassle that never had to happen. I should have just closed the card when I knew I didn't need it.
      Steve

      * Despite the high cost of living, it remains very popular.
      * Why should I pay for my daughter's education when she already knows everything?
      * There are no shortcuts to anywhere worth going.

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      • #4
        Don't close; consolidate.

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