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Credit Card

New Visitor

Credit Card

I have 2 credit cards with a zero balance.  Will my score increase or decrease if I keep them open or close them?

3 REPLIES
Senior Contributor

Re: Credit Card

If they are your only CC, your score will go down.

Moderator

Re: Credit Card


Shafter wrote:

I have 2 credit cards with a zero balance.  Will my score increase or decrease if I keep them open or close them?


Are those your only credit cards?  Likely decrease if you close them, otherwise YMMV.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Frequent Contributor

Re: Credit Card

3-4 credit cards is generally considered to be the sweet spot in terms of maximizing your fico score. After that, most people see diminishing returns.

 

With that said, it might be advantageous to add another card, rather than closing your existing one(s).

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