Here are answers and opinions from FAQ Farmers: * To ward off fraud, yes, you should. Most companies don't penalize you for closing and you should be able to reopen the account at a later time if you decide. I would just call the credit card company...
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Here are answers and opinions from FAQ Farmers: * To ward off fraud, yes, you should. Most companies don't penalize you for closing and you should be able to reopen the account at a later time if you decide. I would just call the credit card company and ask their policies, but working for a credit company in the past, you wouldn't believe how easy it is for people to commit fraud, and people don't know because they never see a statement. If you leave it open, just call to check on the account every so often, just in case. * Yes, close the accounts. * No, every time you close an account you are lowering your FICO SCORE by raising a flag that shows the percentange of credit debt you have seems to have increased. You should keep all lines open and not have more than seven of them. * It is my understanding that you should close all credit cards you are not using. With open accounts "out there" your potential debt is high. That makes other creditors (house, car loans) nervous. You SHOULD... See less 
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