Should I close my Care Credit accounts?

I opened two Care Credit accounts opened with GE in 2007. Both accounts will be paid off by the end of 2008, each with $2000 limits. Should I keep these cards open after I pay them off? These two are the only non-major credit card company cards I have but their limits are higher than some of my other cards. Since they are not associated with VISA or MasterCard, does this matter much to my credit score? For those that have Care Credit accounts, did you find that you actually used the accounts after you paid off the initial procedure you opened the account for? The only reason why I opened them was to finance some dental work that was later taken care of by my insurance and also to finance laser vision correction. I am contemplating closing these cards after their balances are paid off but I am curious as to how beneficial it would be that I have $4000 in available credit (that I would probably not use) especially since my other cards have balances on them.

Should I close my Care Credit accounts?
Usually when you close any accounts, your credit score might drop slightly. I have kept my account open (it is paid in full). Occassionally I will pay with this card when my dental insurance does not cover an amount charged by my dentist. I like to have it just in case any other "emergencies" (laser surgery, botox, etc) come up!!!
Reply:A big part of your credit score is the ratio of revolving debt to available credit limits. Carrying balances of more than 30% hurts your credit score. Closing these cards would lower your overall available limit, thus increasing your debt percentage.





If there are no annual fees on these cards, keep them open at least until you pay off all your other credit cards.