I was asked this week, "Should I close my credit cards?" The answer is no. It is never a good idea to close your credit cards. I have had many clients pay off and close credit cards before coming to see me, thinking they were doing the right thing. The first thing I had to do was help them re open new credit cards.
Our scores are based upon our payment history of existing accounts. When you close out the cards there is no existing credit to score. If you have no open credit of any kind you could end up with no scores at all.
We have made it simple to apply for credit cards at http://hope4usa.com/credit-cards/.
HOPE helps our clients every day establish a healthy credit ratio. If you would like to know more about what it takes to have a healthy credit file please call us at 704-503-3669. Our staff is waiting on your call!