To close or not to .......

[Anonymous]

I just paid off a motorcycle loan with Yamaha . In doing this , my credit score shot up . I had a line of credit with them for $10.500 since October of 2005 . The line of credit is still there . Do I close the account and hope my score only goes down for a little while before heading back up , or do I keep it open to save the score ? I Plan on buying a house but not for the next 5 years . By then I'd like to have all my ducks in a row so I am in the best possible financial situation to buy . Thanks for your replies in advance !!!

[Anonymous]

I would not close it.

Closing accounts in a short amount of time can have a negative affect.

[Anonymous]

If paid off, and a no fee line of credit. The available credit will reduce the percentage of your credit card debt when you carry a balance. Better for your score.