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Tkeith8109

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Should I close my credit cards?
My husband and I are trying to get a lot better about our finances. We are in a situation now where we can pay off all of our credit cards and cut out that monthly payment. The problem is, we have done this before and something always happens,whether its me missing work, or something a little more serious, to where we have to use those credit cards again that we just paid off and wanted to keep paid off. You can say that we're not the greatest at managing our money, but like I said we are really trying and have a plan that we are GOING to stick to. My question is should we keep the cards open, make a small purchase every now and then, pay that off at the end of the bill cycle and raise our score, or should we just go ahead and close them all, with the exception of one, so we don't get tempted to run them up again? I know that keep the credit cards open and at a low balance is the best thing for our credit, but honestly I'm worried that something will happen and we will need to use the credit cards and the cards will get maxed out again. Wouldn't that look worse?

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Don't close your credit cards unless you want your credit score to take a real nosedive.  Instead, start reading the articles provided on this site (see left side of page) and use the financial tools so you can  LEARN what to do or not do to build a good credit score.  That is what Credit Karma is all about.  The tools are here and you need to learn because too many people are not being taught how to manage their credit and get in a world of hurt because of it.  There are financial tools here, also, so you can see what could happen with your credit score with certain actions, and not have to learn the hard way.                    

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