Probably a dumb question, but....

[susiec]

Last year before we sold our home, we replaced the ac unit and had it financed through GE. When the house sold, we PIF the account, thinking that it closed. When we bought the new home, we also purchased some furniture at Rooms to Go, using their 12 months same as cash. Paid it in full in two weeks. I didn't realize it was also through GE.

When I went online to pay the account, I noticed that both accounts look like they are still open. Does paying in full not close the accounts? And if not, should I close them?

[Anonymous]

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@susiec wrote:

Last year before we sold our home, we replaced the ac unit and had it financed through GE. When the house sold, we PIF the account, thinking that it closed. When we bought the new home, we also purchased some furniture at Rooms to Go, using their 12 months same as cash. Paid it in full in two weeks. I didn't realize it was also through GE.

When I went online to pay the account, I noticed that both accounts look like they are still open. Does paying in full not close the accounts? And if not, should I close them?

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Not a dumb question.  Paying in full does not close out your accounts. Once you open a credit line it will remain open until either you or the creditor closes the account.  As for whether you should close them out, that's entirely up to you.  Will you ever use those credit lines again?  If you close thrm how will affect your overall utilization?  Only you know these things so you need to decide.  In itself closing the accounts will not hurt you unless they significantly raise your utilization.