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Will my credit score drop if I pay off a credit card opened in 2017?

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In 2017, I have taken out a balance transfer credit card for paying off my 3 other cards. I have paid off the outstanding balance in August. Should I close the account now?

You can close the account. Since you have opened the account in 2017, so it wouldn't affect your credit score much. The payment history is short. Plus, why should you pay 22% to 24% interest on a credit card unnecessarily? But if you can pay high interest rate on a credit card, then that is a different issue.

Sub: #1 posted on Fri, 10/19/2018 - 04:06

ditchdebt ditchdebt

(Posts: 679 | Credits: )

Sub: #2 posted on Sat, 10/20/2018 - 01:31


Yes, you can. Because the credit history is short. However, make sure you have repaid all the amount before closing the card.

Sub: #3 posted on Thu, 10/25/2018 - 06:02

Sanders Patricia Sanders Patricia

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