The 5 Things That Count for Your Credit Score
April 12, 2008
This chart was published by Bankrate.com.
The author writes:
So, is there ever any reason to close a credit card, from a credit score perspective?Not from a scoring perspective, no. There really is never any good reason to close an account. I don't get to say that about too many things that have to do with scoring because usually you're going to hear a lot of "it varies" -- because it does. I can tell you one other way that closing an account can hurt your score: Once it's paid off, that account will be on your credit report for no more than 10 years.