Expert Realtor
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If they are store credit cards and you are moving away from the area where the stores do not exist, then I would cancel one credit card every 6 months once you got the balance down to zero (if that applies to you), and that way you can spread it out. |
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mark
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Never use those damn store cards anyway. They are a scam that typically carry very high interest rates. Nothing you can buy with them that you cant get with a VISA. Close them out or you may have problems opening additional credit because of your "potential credit" still being open with those cards. For example, you try to open a VISA account. VISA won't give you credit because you have open credit lines with 4 stores with a $5000 max total. VISA assumes that you WILL max out your potential credit when it decides how much (or if) you can have.
Credit cards are a great tool if used wisely. I buy virtually everything on credit, and pay the whole bill at the end of the month(every month). I never pay one cent of interest, and get the advantage of the float for the month and the miles/cash back rewards. |
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beauty s
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yes, if you can't use them out side where your moving to |
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jezbnme
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pay them off and leave them open. periodically buy from that store online if its for somewhere like sears or other box type stores. that will kepp your card active and getting you higher scores |
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bnorred1840
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whatever u do do not close them, u can always use them later |
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Kate
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Don't cancel them, it doesn't hurt you to hold onto to them for awhile....if you really want to cancel just do one at a time every 6 months or so. Of course if you are not planning on making any large purchases or taking out any loans in the near future then it doesn't matter as much |
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eniles21
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Just pay off the balance and don't use the cards or you can always take up online shopping. |
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CHARLES T
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I would pay them off first and then close them. It will help your credit if they are paid off. Always pay of the the highest interest rate credit cards first.
While you're closing credit cards, call your other credit card companies and ask them to lower your interest rates. They might surprise you. They lowered mine. |
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jollyroger76
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All credit cards are bad news, but if you like having them, you can keep the accounts open indefinitely. |
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Sgt. Crabbs
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Move your credit cards registered address maybe? |
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Crushed Ice
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Cut up all credit cards. OK The devil created credit. |
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Jbon
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You only mess up your credit if you don't pay you bills. Cancel the cards that you don't need. |
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