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bksells

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closing credit card accounts
i have 3 credit cards that just suck and i don't use anymore . should i close these accounts

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NO!!

Each of those credit cards has a credit limit that is considered in determining your credit score.  When you close an account, you lose that credit limit from your score calculations.  You don't have to USE the cards (lock them in a safe place) but don't close them.

I have 3 that are at the 20% interest range, and they were consolidated, so not used anymore, except occasionally, and the account is paid in full when it comes in.  The total credit limit on them is over $3000.  Striving to pay charge accounts in full when they come in is very important, no matter how 'good' the card is.  

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