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Ohmomma

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Close department store credit card?
I have a department store credit card that i just paid off. It's been almost year since I opened it and it's limit is $600. I want to close it to resist temptation. I also have 2 other regular credit cards that I'm in the process of paying off. They are both old. How bad will it hurt my credit to close the department store card. I want to buy a house in about a year.

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Hey Ohmomma, closing a credit card account will hurt your credit score. Length of time is one of the factors that go into your FICO score. If you have to cut the card up to resist temtation, DO IT! Just remember to go into the department store once a year, find a cheap item and put it on your credit account, and pay it off with cash on the same day. I'm saying to do this because if you don't show activity in a certain period of time some credit card compainies will close your account. I hope this helps!

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