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Scenario....You finally paid off your credit card balance. Whether it was years of hard work, budgeting and efforts or you manage to pay it off every month. You no longer use that particular card as you learned from to just have one card in case of an emergency situation, car rental, hotel, etc. What benefit, if any, is there to keeping the account open?

Hi Nomodebt!

If you're never planning to use that card again, there's no reason to hold onto it. Keeping it would only be a temptation, or a risk that it could fall into the hands of an unauthorized user.

It's not a bad idea, however, to have a second account for emergencies--a backup, if you will in case your primary card were to be lost or stolen, or in the event there's a problem with your primary card being accepted for some unknown reason.

...but I still am...

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