Close or keep it Open?

[Anonymous]

Hey folks,

I am in the process of rebuilding my credit.

I have 2 credit cards that had been restricted from use due to late payments.   1 of them was paid off last fall and is currently a 0 balance yet restricted.  The 2nd I just paid off last week and is also now at a 0 balance.  The CC company will not take these cards off of the restricted status so what I'm wondering is... should I close these account or leave them as open with a 0 balance yet restricted?   Which looks best for reporting on my credit report?

Thanks so much!

[medicgrrl]

Depends, how many cards do you have and are you carrying any balances?

[Anonymous]

 I have 1 other CC.  It is open, being used and current.

Other than those 3 things... I have a judgement on my credit.  That is all.

[medicgrrl]

I would leave them open until you eventually replace them. You want 3 open revolving accounts with only one reporting a small balance. Just consider them your $0 reporting cards.

[RobertEG]

By "restricted status," do you mean the account is temorarily closed to further charges, or only restricted as to an amount?

It sounds like the account may already be legally "closed."