Don't cancel cards, pay off and hold with zero balance---all affects credit rating, canceling actually damages fico score. Then use them once in a while, as long as you pay entire bal at eom.I now only use cards for convenience, never buy anything you dont have the cash on hand to pay off at eom, as others pointed out before. BTW, I used to work in the CC/Mortgage industry for 15+ yrs, know it can be difficult to get out of debt, but have some discipline and you WILL be successful.
Last edited by Joe_Kidd; 10/19/08.
