How do I close LOC/CC accounts without hurting my credit?
I've consolidated my debt into a single account, and have been sticking with a budgeting plan that will have the majority of this paid off in a year. I still have some other credit cards and a line of credit with rather high rates that are now paid off which I would like to close, but I've heard that this can negatively affect my credit, which is otherwise very good. Is this true? I want to close off two cards and keep one with my LOC, and reduce the credit limit on those. I don't like the idea of having tens of thousands of dollars in 'virtual debt' to my name, not to mention the temptation of all that free money sitting there should I lose my discipline some time in the future.