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Question By
ConfusedMillineal

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Should I close accounts I paid off?
My credit score dropped because I opened two accounts at different stores when I bought furniture. I've now paid them off, should I close those accounts or let them be to help my credit score.

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If their life is short compared to your other credit cards and their available credit is low in comparison to your overall available credit (usually approved for amount of purchase on these types of cards) then I would personally close them unless you plan on using them again. 

There is not much of a benefit from not closing them as the store/creditor will most likely close them for you due to inactivity before they will start helping your average life of account significantly.

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Reply by
Havvkeye

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I will caveat my response with the fact that leaving them open won't hurt you at all and is less effort.  Unless you have a reason to close them I would let them close themselves from inactivity.

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