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tanfarming

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will it help my score if i close my newest credit card which were opened a few month ago ?
i've opened 4 new credit cards in the past 6 month which lowered my score significantly. now i'm wondering if it will help to close 1 or 2 of them?

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Most likely it won't help to close the cards. The damage from hard inquiries and new credit has been done. Closing those cards now won't undo it -- and (if you keep any balances at all) could play havoc in the very important utilization category.

Don't worry, though. Your score will recover within the year if you manage the new credit well. So use those cards to keep them active, pay on time, keep utilization low, then watch your score strengthen.

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daymiensdad

If I have a one-year-old credit card account that has a zero balance and is not going to be used. What happens if I close it? I don't care if it improves my score, I just don't want to hurt it by closing that account.

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