 TITLE: Why Credit Scores Could Drop After Paying Off Credit Cards CONTENT: Should I Close an Unused Credit Card After Paying It Off?\n---------------------------------------------------------\nIn the short term, closing an unused credit card account will typically cause a drop in your score due to the change in your credit utilization. On the positive side, if you close your account in good standing (with no late payments), your account will remain on your credit report for 10 years, and you'll continue to benefit from that past positive payment history.\nEven if closing an account hurts your credit, your score will likely rebound over time if you pay all bills on time across your other credit accounts and don't take on new debt. This can be a relief if you feel that closing the credit card is the best way to prevent you from accumulating more debt. You may also choose to close a card if it comes with a high annual fee that you can't afford or would rather not pay. END