https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sat, 23 May 2026 16:38:46 +0000 https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572073 Mon, 18 Feb 2013 11:01:22 +0000 immabeetoo 572073@https://boards.hellobee.com/ <p>Open! Your score is affected by length of accounts lifespan and also debt to credit ratio. Even though we pay off in ill each month we regularly request credit increases because it make our ratio better when were spending the same amount but have more credit we could use. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572070 Mon, 18 Feb 2013 11:00:23 +0000 PurplePumps 572070@https://boards.hellobee.com/ <p>I just kept them open. I think it depends on your debt to credit ratio so maybe you dad's cards didn't effect that much. I'd probably just leave them open and tuck them away. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572060 Mon, 18 Feb 2013 10:55:38 +0000 Bao 572060@https://boards.hellobee.com/ <p>@Smurfette: Thanks!! </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572058 Mon, 18 Feb 2013 10:55:07 +0000 Smurfette 572058@https://boards.hellobee.com/ <p>@Bao: Just a little over a week now. Fingers crossed for you! </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572057 Mon, 18 Feb 2013 10:55:00 +0000 Bao 572057@https://boards.hellobee.com/ <p>@bluestriped bee: Oh crap that would really suck :( Yeah our mortgage lender and realtor both told us to do absolutely nothing until after closing. It's all for a good cause though. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572053 Mon, 18 Feb 2013 10:53:39 +0000 Bao 572053@https://boards.hellobee.com/ <p>@Smurfette: We are supposed to close February 28th. We have been a one car family for a few weeks now because we haven't closed yet, it's been manageable but still sucks we can't even do much at this point. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572052 Mon, 18 Feb 2013 10:52:51 +0000 BSB 572052@https://boards.hellobee.com/ <p>@Bao: yeah, when we were house hunting, my realtor was really adamant about making sure our credit score remained stable. Or at least went up instead of down. I remember reading somewhere of a couple who ended up not closing on their house because they opened a new CC at a furniture store. The home buying process is so scary and sensitibe. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572047 Mon, 18 Feb 2013 10:52:08 +0000 Smurfette 572047@https://boards.hellobee.com/ <p>@Bao: Totally sucks that you can't do anything before closing. We went on a huge shopping spree right after closing. When are you closing? </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572042 Mon, 18 Feb 2013 10:51:04 +0000 Bao 572042@https://boards.hellobee.com/ <p>@Smurfette: No way! :)<br /> @LindsayInNYC: This is true! </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572041 Mon, 18 Feb 2013 10:50:32 +0000 LindsayInNY 572041@https://boards.hellobee.com/ <p>@Bao: Even if you cut it up, you can always call and request a new card if you need one down the road! </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572036 Mon, 18 Feb 2013 10:48:50 +0000 Smurfette 572036@https://boards.hellobee.com/ <p>I have always heard to keep them open.</p> <p>Whatever you do though, DO NOT close it till after you close on the house!! </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572033 Mon, 18 Feb 2013 10:45:53 +0000 Bao 572033@https://boards.hellobee.com/ <p>@bluestriped bee: Yes we are closing on it soon, so good point. I wouldn't have closed it until afterwards anyway but I think I am just going to keep it open, the example you gave was great! </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572029 Mon, 18 Feb 2013 10:44:14 +0000 BSB 572029@https://boards.hellobee.com/ <p>I heard you should keep it open and just cut up the card if you don't ever want to use it.</p> <p>From what I understand, your credit score is partly based on the debt to credit limit ratio. Of all your credit cards, you might have $2000 worth of combined debt but your total combined credit limit is $10k. If you close that one account, your debt percentage goes up because you now have $2k of debt over $8k now. This example is based off of a CC with 2k limit. </p> <p>I would keep it open. Also, didn't you recently buy a house? I wouldn't want to do anything that would affect my credit. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572020 Mon, 18 Feb 2013 10:40:36 +0000 Bao 572020@https://boards.hellobee.com/ <p>@Bookworm: that makes complete sense!<br /> @Thehistoryofus: I personally do not, but this was a joint card between DH and I and he has 2 others from several years ago with a zero balance.<br /> @LindsayInNYC: ok that makes sense too, I guess it doesn't hurt to leave it open but tuck it away somewhere. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572013 Mon, 18 Feb 2013 10:37:36 +0000 PurpleUnicorn 572013@https://boards.hellobee.com/ <p>i only have one CC and paid it off recently. i decided to keep it open "just in case" and i also trust myself not to rack it up again (especially since I am actually making money now and not a student) </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572011 Mon, 18 Feb 2013 10:37:16 +0000 LindsayInNY 572011@https://boards.hellobee.com/ <p>@Bao: You credit score isn't really a reflection of your age. It has to do with how long you've had account(s) open, the amount of credit you have, the amount you use, on time payments, etc. If the card you just paid off has been open for a significant amount of time, I wouldn't close it. Keep it open and either don't use it or use it within reason. Very rarely is closing the account a better option. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572010 Mon, 18 Feb 2013 10:37:09 +0000 T.H.O.U. 572010@https://boards.hellobee.com/ <p>@Bao: Do you have an older card? I read that you should keep your oldest card to show a long credit history. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572009 Mon, 18 Feb 2013 10:36:55 +0000 Bookish 572009@https://boards.hellobee.com/ <p>I left my old CCs open when I was done with them, primarily because I heard it could hurt your credit, but also because I figured it'd be nice to have an 'empty' card for emergencies. I know one thing I've seen on our credit reports/when we got our mortgage was the credit 'ratio' so, the ratio of total credit you have open to the amount you are actually using. The 'better' that is (i.e. the less you are using) the better that part of your score would be. So closing an account would make the bigger number of total credit smaller, and therefore give you a 'worse' ratio. Hope that made sense lol. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572006 Mon, 18 Feb 2013 10:35:37 +0000 Bao 572006@https://boards.hellobee.com/ <p>@Thehistoryofus: Only about a year and a half </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572004 Mon, 18 Feb 2013 10:35:12 +0000 Bao 572004@https://boards.hellobee.com/ <p>@MsLipGloss: yeah I am thinking since my dad is much older (obviously), he has more flexibility like you said. I know my credit score is good (above 760), but since I am only 23 this may have a lot to do with it. I have no idea lol... </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-572002 Mon, 18 Feb 2013 10:34:24 +0000 T.H.O.U. 572002@https://boards.hellobee.com/ <p>How long have you had the card open? </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-571998 Mon, 18 Feb 2013 10:33:19 +0000 MsLipGloss 571998@https://boards.hellobee.com/ <p>There are so many variables that could impact your credit rating and what impact any one action would have on your rating. Your dad probably has a considerably longer (and more diverse) credit history than you which could allow him greater flexibility in closing accounts without it impacting his rating. Chances are, you should probably leave the account open (with a zero balance). But it's really hard to know for sure with limited data points. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-571997 Mon, 18 Feb 2013 10:33:06 +0000 runsyellowlites 571997@https://boards.hellobee.com/ <p>I think we'll be keeping ours. I don't want anything to "hurt" our credit right now since we're trying to build it back. I figure we'll freeze them so that IF we do need them they're there but inconvenient enough to use that we wouldn't use them if not necessary. Maybe later down the road we'll close them. </p> https://boards.hellobee.com/topic/credit-cards-to-close-or-not-to-close#post-571988 Mon, 18 Feb 2013 10:30:06 +0000 Bao 571988@https://boards.hellobee.com/ <p>I just paid off our credit card, and it is one through a credit union we had when we lived in another state, so we will not (hopefully) be using it anymore. I hear conflicting answers to whether or not closing a CC will hurt your credit or not. I closed 2 down about 4 years ago and it affected my credit, however, my dad just closed several and nothing changed...When you pay off a CC and no longer want it, do you keep it open or close it? I am leaning towards keeping it open. </p>