I paid off one of my credit cards so should i close the account?

[dollarsaign]

Correct.

Dont close it. and make sure no fees are associated and it will keep the credit points affected.

Hey by the way. Good for YOU!!!! That must feeel goood!!!

[maat55]

If it is a short term account with a low limit and you have no need for it, pay it off. Make decissions based on your desire for credit and not just for score sake. I have only two cards and I PIF each month. I could go out and get more of them if I wanted to, but I have no use for them. I don't even know my credit score and I have no trouble borrowing money when I want to.

[CouponAddict]

i have 2 credit cards and this time last week combined i owed $888.00 but with the payment to the Radio Shack card i now have a balance of $0 and was wondering should I close the account and focus on bringing down the $661 on my american express card?

Does the radio shack card also have a visa or mastercard logo on it or is it purely a store only card?

I pay all my credit cards each month in full, so that is where my advice is coming from......

If the card has a annual fee, once you are sure there is no hidden balance or interest - close the card, you should NEVER willingly pay for an annual fee for a Credit Card.

If it is a store only card---Close the card, if you really want something from the store save up for it and pay with cash. It is radio shack is this REALLY a MUST have???? If you cant save for it can you really afford it?

If it is a visa or mastercard also with no annual fee--Keep it you never know when you will have an emergency--Out of state and need to pay a car repairman or hospital bill and they may not take American Express.

And yes now that you paid off the radio shack card start plugging away on that AE card balance.

Good luck and good luck.

[simpleyme]

I closed a home depot account ,I requested and received written notice that it was closed we went to rent a truck from them and they did not require us to give a credit card, we asked why they said we have a HD card ,I said we do not we closed it she said all they have to do is push a button and its reactivated;-( they have all our info
so as far as closing accounts to prevent ID theft that seems worthless

If your credit is good I would close it if you want to ,if your credit is bad i would leave it open

[InDebtInDC]

Sorry about the font size. I guess I hit by accident when I was trying to bold.

Thanks poundwise for pointing that out.

[CreditExpert]

its better to close unused accounts as you wont be billed for any charges and also wont be tempted to use it again.