Internet's first get-out-of-debt community - 134,000 members

Posted: Sat Dec 01, 2007 4:08 pm Subject: Cancel credit cards

Is it better to cancel old, unused credit cards, or newer ones and leave the old ones open?

Posted: Sat Dec 01, 2007 5:56 pm Subject:

Length of credit is a positive on your report. I have a couple of low balance old cards that I have left open...it doesnt hurt anything and I charge a tank of gas or something every once in awhile then pay it off.

Posted: Sat Dec 01, 2007 8:15 pm Subject:

I agree Volley-I have some I keep open too just for that reason.

Posted: Sun Dec 02, 2007 6:30 am Subject:

Cat, I would certainly take Volley's advice. She is right on when it comes to anything banking.

Posted: Sun Dec 02, 2007 9:59 am Subject:

Credit cards with age should be left open and used just enough to keep them active. I would close any card that comes with a fee if you can afford the temporary hit due to loss of utilization.

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