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Question By
dyonnn

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should I get another credit card when balance is due on a closed account?
Would it be a good decision to apply for another credit card when I have one that has a balance that I need to pay off and has closed?

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No, get out of debt first..... Learn how to manage your money by paying important bills on time before starting the cycle over again. Set for yourself a monthly budget.  Good luck my friend.

Top Contributor
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If you can afford it, then yes, getting a new card is a good idea.  The good credit will help offset your bad credit, but it will take a few months for it to affect your scores.  Your closed account, if left unpaid, will fall off your report 7 years from date it went delinquent.  If paid, it falls off 7 years from date paid, unless you negotiate a "Pay Per Delete" agreement in writing with the collector/creditor.  Best of luck!

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