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nicolep313

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If i close a credit card how hard will it hit my score or should i just leave it be and not use it?

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How old?

My rule of thumb is I like to keep my two oldest cards open (if no annual fee) so that they help the average age of accounts. A lot of the score component depends on what your average age of accounts will change to. If it will only swing the average age a few months; it will not make a huge difference. Also, don't forget utilization. It also helps to have old cards open, especially if they have high limits; since that goes into the calculation of overall utilization.

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Please take the time to read the articles presented here because they explain credit very well and advise on what to do or not do to build a good credit score.  I went from a primarily cash-only basis to the point where I have several credit cards (most with a $0 balance or used only occasionally) and was recently able to finance a new car, which was impossible ten years ago. all from what I learned from the articles and the financial tools.  And I am on a fixed income.

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