My name is Rose Jones business women and entrepreneur with a back ground in mortgages.
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This is something that you really need to think about. A lot of people think you should tuck them away or even cut them up I feel differently and here is why.. Let's start with this, credit card companies make money off the interest on the card they give you, if your not using it someone else will.
These are some things to think about,
1. If you don't use the card they can reduce the amount.
2. If you don't use the card they can at their discretion close the card.
If the card is closed by the creditor, that is the way it will show up on the credit report if its closed by the consumer it will report as well that way. Closing your cards will hit your report no matter how its closed and lower your score by points. I say do not cut them up, leave them open using them often, I would apply a large amount then by the statement date pay it off. I have heard people say they don't want to pay interest on a card they do not use. I say take the balances down to maybe $30.00 and even if you pay 25% interest your only paying $7.50 in interest if that depending on your rate. This will benefit you in the future if you keep the card open because you now have available credit as well as it lower's your debt to income.