is it ok to have a couple of credit cards open with zero balance?

[non flammable]

i have a master card that i never use and a american express.  is it ok to have these open and not use them

 

[holler mcdollar]

100% ok, in fact that's exactly what you should do. don't close CC accounts; keep them open even if you never use them.

 

[presequel]

not a problem at all. do not cancel them.

 

[elnino4530]

What the other people have said. You don't want to have TOO many open lines of credit, but you should have at least 3. Credit card, student loan, etc.

I have also been advised not to have more than half your line of credit as a balance on the card

 

[23mcpizzle23]

Originally Posted by holler mcdollar

100% ok, in fact that's exactly what you should do. don't close CC accounts; keep them open even if you never use them.

QFT

 

[groady wang]

Yes, but with the recent credit crackdowns, Credit card companies are beginning to shut down inactive accounts so u may want to throw a fill up of gas on the cards and just keep on alternating them to keep them active. Having a credit card shut down by the company doesn't look good on your credit report. Your only supposed to carry about 20% of your credit line as your balance otherwise you are adversely affecting your credit score.

 

[ouch my feet]

The CC company will close your acct for inactivity...Of course that depends on the company. For example, PayPal shutdown my buyer credit acct recently since I never used it.

 

[diaztwenty3]

Better than having a never ending balance...

 

[mr jordan04]

Did anybody else see a hit on their recent credit score? My score dropped about 75 points from equifax for no reason. I called in and the guy told me there's a new scale that the companies are using now that started in 2010