You need to in no way close your credit history cards, even if they've a zero balance on them due to the fact the credit rating cards as well as the time it has been established provides history on your credit score report.
Closing a bank card that includes a balance on it lowers your total debt to offered balance ratio which can in turn affect your credit score.
In case you have several cards, try to pay down the 1 in the greatest interest rate very first but in no way close your bank card since you'll in no way be in a position to re-establish the existing history in the trade line.
Even so recent studies by credit history reporting agencies show owning as well several open credit ratings accounts will negatively affect your credit rating as well, the key to developing very good credit rating is 1 of balance using a reasonable quantity of credit rating to go in addition to your financial lifestyle.
Also noted is that credit ratings lenders are shying away from basing their approvals and rates on credit rating alone and beginning to think about the bigger picture for instance payment history, length of credit ratings etc.