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I answered your other question like this, and I'll answer it again. Keep the cards, and use them LIGHTLY ($20-30/month) to show activity. Believe or not, those 2 cards you've had since '97 are considered "seasoned accounts". They're practically the backbone of your credit history. Cancel them, and you shorten payment history on all your active accounts in good standing, decrease the available credit on all your combined revolving credit (credit cards) making it look like you're using your cards more than you should, and it shortens the average age of the open accounts in good standing that you have. After that year of no-interest wears off, they're going to check your score to compute your rate and then it will shoot through the roof. Just use the 2 old cards very lightly ($20-30/month) to keep them active. |
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Cristy
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Don't close them! If you only keep the new one you'll be scored as having NEW credit. Not good. Also what percentage of your total available credit you use is factored in. Should be no more than 30% for a high score. So if you close these cards what ever you do use on your new one will be a higher percentage. |
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kat
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keep them open! it looks better to have 0 balance on open cards then no cards at all |
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royalserendipity
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Keep them open. Having the available credit + the age and history of the accounts will improve your score. |
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Chuck T
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Leave them open , doesn't look good on your score for some reason when you close cards.... |
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SPIFIMAN1
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Please see your previous question for the correct answer. |
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Kris D
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Showing available credit without debt is normally a good sign in your credit report. As long as you arent using them at all then id say leave the account open and just cut the cards up. |
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dlt_demon
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keep them |
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Amber
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I'd keep them and just not use it. |
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greysfan
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Whenever you close accounts it looks negative on your credit. Your best be would be to keep them but use them as little as possible. Try to keep your balances low. Make payments on time. Try to pay off balances in full if possible. Do use your credit because creditors also look at that. |
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~*Katie*~
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It looks good if you have open credit cards with available credit. But not too much available credit. You might want to close one of them |
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ronnlynn
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Keep them, and put a small purchase on them every few months and pay it off immediately. |
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money man
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close one and keep the other |
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deluded_majority
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I did that but didnt bother to close the cards or reduce the credit limit.. And over time I spent all the credit i had had left.
You have to close or reduce your limit or you will use it.. |
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WIGGLER
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good is better
bad is badger., |
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j_bryon
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If I understand this correctly I think it would be best to cancel them both and just keep the one you consolidated to.
It is actually bad for your credit to have an open credit card account and not use it
Keeping just the one is probably the best idea. This way you have a credit card that you are making payments on, which is very good, you have a very low interest rate/no interest rate with the consolidation so you aren't paying extra that you would be if you hadn't consolidated, very good, and you probably have available credit to use if you need it!!!
I hope this helped you with your decision!
Good luck!:) |
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charles 2
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close the accounts,you dont need them.only accept cards that have no intrest |
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JB
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Close them. You will end up using them again. You will end up in the mess you are in again. Close them now. |
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kitty99026
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Not sure! |
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