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sigmad48 wrote:What your salesperson told you is correct. It always lowers your score when you close an account after you pay it off. It is best to keep them open and just not use them. It shows that you have control of you spending habits. You score is determined by the amount of your total credit compare to the amount that is still available to you.If possible I would call one or two of the credit card companies that you closed and asked them to reopen them and just not use them. Rule of thumb is that don't like to see where you've used more than 30% of your available credit. By having that available credit and not use it it will make your credit score increase.Just don't go and open new credit at a difference company because that would show up as an inquiry and decrease your credit score.Good Luck!
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In2deep wrote:I have NEVER used the accounts at all. When I received the cards years ago, I just cut them up and told the companies to close the accounts because I didn't apply for them. Does this still affect my credit the same way as if I used them and paid them off?
@Anonymous wrote:I have NEVER used the accounts at all. When I received the cards years ago, I just cut them up and told the companies to close the accounts because I didn't apply for them. Does this still affect my credit the same way as if I used them and paid them off?