Received a windfall of cash and paid off all extra credit cards and am...

Charlotte B · #1 (**permalink**) 09-14-2007, 08:12 PM

...working with only 1 card. Now. . .? do I close my other cards accounts or do I leave them open in case of emergencies?

(Also, just found out that one of my cards that I paid off just gave me a positive bump in credit. A REALLY BIG BUMP. What should I do?)

Seehaze J · #2 (**permalink**) 09-14-2007, 08:13 PM

Leave them open. they will help increase your credit score. A good credit score will help you get better interest rates when you need a loan. Don't go running up the debt again or that big bump will go back down in a hurry.

chris m · #3 (**permalink**) 09-14-2007, 09:01 PM

Leave them open but dont use them....one of the measure of your credit is actually howmuch you have available compared to how much you are using.

marie b · #4 (**permalink**) 09-14-2007, 09:36 PM

you need to close the other ones u are goin to be in debt if you keep them open

sparkles · #5 (**permalink**) 09-14-2007, 10:23 PM

Spend the eight dollars to your FICO score. Ask yourself are planning to buy a car or refi a house or get a new house. If the answer is no to all the above just leave another credit card open. 730 or above is a good FICO score.

alydia911 · #6 (**permalink**) 09-14-2007, 10:37 PM

ya do not listen to that guy that said if u keep them open you will be in debt. i have heard to not close them because it will show against your credit score. so just keep them open and not use them. of you can have one card for bills and the other for gas. or something like that