I know closing a credit card will make your FICO score go down, but what if I already closed them and I'm still paying on them, should I re-open them.

February 23, 2008

Posted by TonyLiu

( 0 ratings )

No you should not. If you closes the credit card it was likely for a good reason. If you had debt on those cards that more reason not to get a credit card. You shouldn't spend money you don't have, especially when you are paying insane interest rate charges, 20% APR or more. Forget it!

Additionally, reopening a card won't remove the FICO score deduction incurred for closing a card, it doesn't work that way once its reported.

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