Reply #17: On the other hand, it's good to keep an account open [View All]

[Poiuyt]

I had closed all my credit card accounts and had paid off my mortgage. It's been about three years now. I decided to check my credit rating and discovered that I had none, or at least no FICO score, since I haven't had any credit usage in the last year.

I think it would be a good idea to keep a card with no annual fee and make a small purchase on it and pay it back once a year. You may not need to borrow, but your credit rating comes into play at other times as well, such as job applications and insurance.