Reply #33: Destroying Your Credit Will Not Get "Even" With Them [View All]

[REP]

Sure, cut up the cards but keep the accounts OPEN. Closing credit accounts just hurts YOUR credit rating, so when you go to buy a car or a house, you have a loust FICO score and get stuck with the highest interest rates.

The easiest thing to do is just pay them off each month. If that's not possible, do without so they can be paid off. Take advantage of 0% balance transfer offers - but keep the old account open. Don't screw yourself by closing accounts in what will amount to a futile gesture.