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JLStiers

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Close Credit Card Accounts
If I close credit card accounts with a balance does this help my credit?

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Not good idea.

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First off, you must pay off all debts to have a chance at good credit.  Second, closing credit card accounts reduces the amount of available credit you have, shortens your credit history and generally hurts your credit report.

The only accounts you MIGHT consider closing are those that have an annual fee, unless the interest rate is low.  You might still take a bit of a "hit" on your credit score, abut this will be a choice you may consider.

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