Question

I opened a new credit card just to get a prize or rebate and a discount but I don’t really need this card. Would my credit score be greatly affected by closing this card right after opening it?  Or I’ll just keep it open with zero balance?

Answer

Opening a credit card would temporarily pull down your credit history but would recover as you use it responsibly by paying your monthly dues promptly. While compared to closing an account which can reduce your credit score significantly thus lowering your total credit. In line with that, I think that keeping the card with a zero balance would help your score. However we have to consider the fact that this could be another avenue for potential fraud. So you have to weigh your options whether to close it or keeping it open until it will be closed because of inactivity after 3 years. Do not worry about the score just keep in mind that your score will take care of itself as you pay your bills on time and paying it off every month.