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Question By
indanoplace

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Closing credit cards does that effect my credit score?

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That would depends who you ask... In reality? It would depends on your particular credit profiles.

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Yes it does, 

what have you been reading for the past 2.5 years?

time to take control and learn something here. 

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Only a fool closes their credit accounts. 

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Reply by
JohnnyRain127

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What a foolish statement. Only an uneducated fool would make such statement. You definitely should not ever give out credit advices. Yeah everyone have to keep their credit accounts forever because it will damage their credit scores to no ends and it will never ever recover! What's next? Telling people dont ever paid off their loans cus it will drop their scores. Sad just sad.

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Reply by
icuhowie

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JohnnyRain127,

Not it was not a Foolish Statement, Just the Truth!  90% of the folks asking questions on CK are uneducated on how they Credit Works.  It gets OLD when the same thing is asked DAY AFTER DAY AFTER DAY.   People DO NOT take the time to READ or RESEARCH anything.  Well they are the Fools. 

"What's next? Telling people dont ever paid off their loans cus it will drop their scores. Sad just sad."

Well over the Past 5 years I have never told anyone to not pay off a Loan, but Just the Opposite, Pay them Off and keep them Paid off. NEVER CARRY A BALANCE. 

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Reply by
JohnnyRain127

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Yeah it isn't foolish to say only fool close a credit accounts and you standing by that statement? So you are telling people to continue paying their Credit One's annual/monthly fees even on their death bed as only fool close credit account. You are telling people to keep their secured card open until the day they die, as only fool close credit accounts. You are telling people to keep their accoubt open even when their account is compromised because only fool close credit accounts. Think about your statement carefully. It's not an truth just because YOU think it is, it definitely doesn't make it a fact. You should understand there are no absolutes when comes to credit, as soon you make an absolute statement not only you lose all the credibilities, it's irresponsible as well.

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As for the statement itself? Post it over at MyFICO dot com and see how fast you get laugh out of there. You and others keep on telling people to read, maybe you are the ones need to read and reserch more about credit and stop thinking what you say is the whole truth and the fact.

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" ... I have never told anyone not to payoff a loan but just the opposite..." How dose that go with your statement of only fool close credit account? you can't paid off because when it's paid off it would be closed and as only fool close credit account, again think about the absolute statement you made.

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