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Zero CC balance helpful?

Established Member

Zero CC balance helpful?

I just recently paid off two credit cards in order to clear up some debt.  Would it be wise for me to close them (one is a dept. store card and one is a chase card)?  Would it look better to keep the cards on my report with a zero balance, or does it really matter?  I cut up the cards a long time ago so I would not use them, so I would have to call and request new cards anyway.  I opted to pay them off instead of settling... didn't wanna have that on my report.  I have one Discover card that I can keep that is used for bills and such (which I pay off monthly).  Any advice would be really helpful!  Thanks Smiley Happy

Message 1 of 5
4 REPLIES
Established Contributor

Re: Zero CC balance helpful?

Keep them open and active as long as possible.I would call and request new cards to be sent out...

Message 2 of 5
Regular Contributor

Re: Zero CC balance helpful?

Carter's advice is right on.  It would be helpful to use them for a charge every 1-3 months (that is already budgeted) and pay the balance in full well ahead of the statement cut date.  This will keep them active and help your FICO score in the util area.

Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800


Take the FICO Fitness Challenge
Message 3 of 5
Member

Re: Zero CC balance helpful?

+1 for keeping them open as long as possible.
Message 4 of 5
Established Member

Re: Zero CC balance helpful?

Will do. Thanks so much for the help!

Message 5 of 5