How can I increase my credit score?

I just paid off a credit card debt and I was wondering if it is better for my credit score to keep the card open and have a $0 balance on it, or to close it? Thanks in advance for any help.

Public Comments

1. It's better to keep the card open with a zero balance since your credit usage compared to available credit is part of your score, on-time payments is another (if you don't buy things, it will be easier to make the payments on time), and the time length you have cards open is another part of your score (the longer the better).
2. You're credit score is actually lowered when you close credit accounts that are opened in your name. The best thing to do is just hang on to the card in case you need it in an emergency. Keep it in a safe place if you don't ever plan on using it. The best way to make your credit score go up is to charge a fair amount each month and pay that entire amount off when you get the bill. Also, don't sign up for anymore credit accounts because that can harm your score.
3. Leave it open. You should use it now and then for things your have the cash for and pay it off when the bill comes. That will show regular on time payments. If you pay it before the due date, you won't get an interest charge. And the open credit card with the good payment history is better for you than closing the account.
4. Keep it open and just spend like $10 a month on it and pay it off. History is a big part of the score. Good job on paying it off!
5. I know that it is better to keep your account open rather then closing it. Closing your account hurts your credit more then it helps it. If you do use your account just make sure that you use up to 50% of the total allowed balance. Say that you have a 500.00 dollar limit it is best to max the card out at 250.00. It shows the creditor that you can use the money wisely and it helps you out in the long run if you stay under 50% on your cards!!! Hope this will help you a bit!!