O balance credit cards
I have several credit cards with
a “o” balance, should I close them or let the companies close them after a length of time?
Terry Says
You’ll want to hang on to your oldest cards because they increase your credit score. So take them out and use them at least once a year, and pay on time and in full. Don’t let creditors close any cards. But if you have some, like old merchant cards, that you know you will never use, ask the company to close them and report them to the bureau as closed at customer’s request. Then check your credit report at www.annualcreditreport.com (FREE!) to make sure it reads that way.
