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123456sam

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Closing highest interest credit card account?
I would like to close my credit card account that charges me the highest interest rate. It also is my YOUNGEST account - I have only had the card for 2 years. I would still have 2 other credit cards as well as 2 retail store cards. The retail cards I pay off 100% each month.

How much would closing the account affect my credit? I no longer use the card anyhow.

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If you Pay the Balance off Each month then you are paying 0 Intrest to them. THATS GREAT.

I have 14 Credit Cards, ( only 2 or 3 are actively used ) AND everything is Paid off every month No Balance is carried forward so I look at it as each of the Credit Cards have 0 Intrest on them. I will never ever carry a Balace from one month to the other.

Don't Close the Account Keep it open as long as there is not yearly fee on the card.

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Try This

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I would use the CREDIT SCORE SIMULATOR on this site. It's listed on the top right side and gives you options to enter in some options in order to see if it will increase or decrease your score. I just used it to see what would happen it I got a credit card with a $300 credit limit and it would improve my score.

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If you no longer use the card, just put it away. If it charges an annual fee, you may want to change to a no annual fee card and close the one with the fee as late as possible. If it doesn't, just put that card away.

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