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Should I close my paid off high interest credit cards? Debt Potential vs Credit History
I have two cards that I paid off that are still open. They are 29.99% interest rate. I have had them for almost ten years. The credit compare option seems to indicate that my score will go down if I close them, but if I were a creditor I would see the open cards with an interest rate like that and think "sucker" or "idiot". I don't plan on using these cards ever again. Is the credit history more imporant than the debt potential? Thanks for advice.
Asked by
zeeman17
11 months ago
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If no annual fee just use for gas and pay off monthly. Closing will drop your available credit and score.
nandog 11 months ago
I agree....and you can always call those card companies & request a lower rate and or higher limit. I wouldn't accept either of them if they require a hard pull. You have been a customer for a long time & trust me, they've been doing soft pulls on your credit for years. If they don't accept YOUR terms, do like nandog mentioned...
BungalowMo 11 months ago