I recently took out two credit cards (JAN) which I now don't need should I close these a/c's or keep them?
403295
leave them open, closing them could hurt your credit score
1102530
First, cut up your cards and stop using them! Don't close the account though.  \n\nSecond, call your credit companies and talk to the manager-or someone that can and WILL get your interest rates down to 0% or almost 0%.  Don't take no for an answer.  I had to tell them that I was going to switch to ------ company before they lowered my interest on my cards.  your credit card companies don't want to lose you as their customer.    Remember they've got you - they think! \n\n Now that you have done that  DON'T PAY LATE and ALWAYS pay as much over your minimum due as possible! \n\n Also carefully check if they are charging for those so called "When you are out of work and cannot pay your bill---We will" insurance plans.   They don't work  I have tried it before, when my husband could not beg for a job I tried using this program and all I got was a black mark on my credit report and a closed account!  These programs eat up your money also!\n\n  Make sure you don't have any credit card protection plans  charging money from your cards also.  credit card companies should to be doing that service for you at no charge! \n\nAlso, Don't use those credit agencies.  They also leave a black mark on your credit report.  They say they help you with your credit but try to buy a home after using an agency and no creditor will want to help finance you.  (Been there - Done That!) You can get the same results as they do and save your credit report!\n\nLast but not least - after you have payed off your cards then only use ONE or TWO - ONLY CHARGE WHAT YOU CAN PAY OFF EVERY MONTH and YOU WILL SEE YOUR CREDIT SCORE JUMP HIGHER!\n\nAnd GOOD LUCK!
1016146
They should be removed from your credit report after 7 years.  sometimes you have to write each credit company (experian, trans union, equifax) and tell them so they remove it.
1010925
whatever you do don't pay it off. something that old no longer has any effect on your score so just leave it and be thankful. charge offs look bad on a credit report bcuz it shows that not only did you not pay on time, you barely paid at all and the only result was to charge off your account in hopes of retaining some money back. should you decide to pay off the card think about this. once you pay off that balance, the bad credit history from that point up until now will come with it. You will actually lower your score drastically by paying off your old debt. leave it alone a nd move on.
695032
When travelling incase you lose one, you can cancel it without having to worry about having no money.\n\nAlso CC companies are always giving 6 mth interest free on cards so people keep applying for these
454705
I risk the wrath of God by disagreeing with Credit Guru, but here goes....\n\nJust based on the fact that you are paying $99 for a credit card you don't use is a good enough reason to dump it.\n\nWhat you never want to do is cancel 3-4 cards at one time.  That will have an impact on your score.  But closing 1 account every few months will not hurt that bad, and it will recover after a few months.  \n\nAs long as you are not planning to purchase a home or car in the next few months, cancel the card and use that $10 a month you save to treat yourself on making a smart decision.  \n\n0;)
1161006
Don't panic!  First, they're not going to come after the store.  Credit card companies can't really come and take things...that's why they call it unsecured credit.  Furthermore, they would have to go to court to get any kind of judgment against you, and even if they did, all they could do would be to go after your bank accounts (in your own name) or paycheck, but even that is extremely unlikely.  So, really, this isn't worth worrying about right now.\n\nSecondly, let's undo some misconceptions.  The minimum payment (not finance charge) that doubled is not because of any 'bad credit' statement.  It is standard.  Suddenly, lots of us are seeing the minimum payments increased, and it is something that results from a change in the law, not any decision that the credit card companies are taking.  The requirements have been made because many people have payments so low that they may never get out of debt.  The problem with such a law is that it has had the effect of suddenly whipsawing people into deep trouble that shouldn't have gotten there.  But we can't change that here.  Let's talk about how to deal with the new reality.\n\nYou can simply stop paying, but that may not be your best option.  It will affect your credit for real, and limit your options in the future.  You may also consider refinancing somehow, but this may only get you in deeper.  I think the best thing I could recommend is to get in touch with a credit counseling agency such as CCCS.  They may be able to get your monthly payments reduced back down to the level you were paying before.  It won't happen without some problems (such as cutting up your credit cards), but it should help you get out of debt entirely within about 5 years.\n\nBest of luck to you.
1140894
I own three but rarely use them and if I do its to establish and improve my credit. I use my ATM/debit card as a credit card for larger purchases. Your personal credit is used for insurance rates, jobs as well as many other purposes. :)
74690
If you paid with a credit or debit card I would call the institution that supplies that card.  However, since it has been over a year they may not be able to dispute the charges.  You may need to speak to an attorney if the product was worth the value!
4125
it depends. From what I know, a store credit card is considered the same as a bank card (for your credit history). At any point it is good to have around 2-3 such cards open. any more or less, and you risk being considered as not such a good credit risk
64480
If you don't already have one open a checking and savings account. it is best to go through a credit union they are better and safer in the means they won't screw you over like the others.  Get one or two credit cards and no more than that if you have more cancel them. Opening and closing credit card accounts will lower your credit a bit but in the long run it works to your benefit. I say to only have one or two because too much in credit card credits will also bring done your credit. Don't use them often but say charge dinner on it sometime and then always pay the bill the day it comes, pay all your bills this way. It shows responsiblity on your credit report. And don't look at you credit report more than once a year, it also lower your credit.
311228
The first thing you must do is cancel that card! Cut it up, put it in the blender, flush it down the toilet, just make it go away! Make sure you let the credit card company know that you want to be taken off their mailing list. Trust me, two days after you cancel, you will be sent another card. \n\nAs for your PLC, the best thing to do is to sit down and explain that using that fund is not an acceptable means of daily living. It is set aside for certain things and day-to-day expenses are not one of them.
791251
It depends on your total credit available. You want leave 50% or more of your credit line open. For example, you have two cards with limit of $1,000 each. If you have $500 balance on one and $0 on the other, you currently have 75% credit line open. If you cancel one card, you will have 50% open. That will affect your score somehow. If you have ample credit line, it won't matter.
714181
The previous responders are correct.  If you close out excess credit card accounts, you will actually hurt your credit score.  You are erasing a portion of your credit history, plus lowering your debt/credit ratio. Both of these factors make a major part of your credit score.\n\nIt is recommended that you have 3-5 credit cards or other forms of accounts.  If you have (for example) 10 credit cards, and most are not in use, then it may help you to cancel some of them.  But you need to be careful how you do it.\n\n1) Cancel only one card every 3-4 months.  This will lower your score by a few points but it will restore itself in a few months.\n\n2) Do not cancel any cards if you are intending to apply for credit soon (car loan, mortgage, etc...)  You need every point you can get.\n\n3) Consider getting some of the credit limits lowered.  You really don't need that card with $10k of credit limits on it, do you?\n\n4) Use a couple of cards each month.  Buy something you usually pay cash for each month anyway (groceries, utility bill, gas) and pay it off a the end of the month.  The improved use of your credit will help your credit history and will deflect the negative hit when you start canceling other cards.\n\nCheck out http://www.myfico.com This site is the home site for the folks who developed the FICO scoring system, and has lots of consumer advice you can read.  Understand how your credit score is put together and calculated, and you will do just fine in the future.
1178450
Call your credit card company and discuss this with them.  Can't hurt to ask.
510288
Pay the one with the highest APR first. To get them all paid off though,.. whatever the minimum payment is right now - pay that EVERY month - even when the min amt due changes and lowers - don't do it. Stick with the curent amount. When you get the first one paid off, take the money you were using on that one and put it toward the card with the highest APR. Keep doing this. You will have your cards paid off completely in a few years. I had over $20K in credit cards and in less than 4 years, I'm down to 2 cards - one with $3000 and one with about $600. Good luck.
492338
It is best to stop using the cards, cut them up, throw them away, pay them off and start putting money in savings instead of using credit (spending money you don't have) to buy stuff.\n\nIf you can't pay it off by the due date, pay at LEAST the minimum (more if you can) BEFORE then, and pay the rest when you get it (don't wait for the next due date or you'll rack up more interest charges).\n\nWhile you're waiting for your savings to build up, keep the lines open - if you've cut up the cards and thrown them away, like I said, you won't be able to use them.  Once you have a couple thousand dollars in savings, close the accounts and stop worrying about your credit score.\n\nIf you have money in the bank, lenders will see that you're not spending every penny you make (and more, with credit cards) and won't care about your credit score.\n\nOh, and don't buy a car with credit.  And NEVER buy a NEW car, they depreciate too quickly.  Only thing you should buy on credit is a home!