What is the best way to handle a store line of credit once you no longer use the account?

I recently made a one time purchase from a store with a 0% APR credit line in which they offered. I have paid the balance in full and never intend on using the card again. Is the best option still to not close the account?

What is the best way to handle a store line of credit once you no longer use the account?

As long as you have other credit accounts, then yes, it is generally best to close it. Credit bureaus give you additional points for accounts that have been open for many years. However, those points generally are not as high for a store card as they would be for a major credit card account.

What is the best way to handle a store line of credit once you no longer use the account? loan

The credit scoring formulas are complex and can ding your credit for either opening OR closing accounts. But generally speaking for the scenario you mentioned, I would definitely close it out and not take out additional cards in the future...even though the retailer offers a one-time 10% discount to get you to do it (they do this for a reason...it%26#039;s still profitable for them!). Even if closing it were to ding your credit, it wouldn%26#039;t likely be significant at this point.|||As long as the loan balance is not that high, there is no need for closing it. If it is high, your credit report will reflect it by showing a lot of credit available ot you, making a lender more weary at lending you money. If you were to max it out, would you still be able to pay there loan back. But what if you need it again 5 years from now.