Repair Credit Report Help

Does it make a difference what I do with my credit card?

I have a troubled credit card with a history of late fees and overlimit fees and I'm currently repairing it. What would look better on my credit report? To keep my existing credit card after I pay it all off and continue to keep the card and maintain a healthy card. Or should I pay it all off and cancel it and open a new credit card and maintain a healthy card starting fresh. Does any decision make a difference?

Public Comments

1. If you have such a bad credit history another institution may not issue a credit card....
2. i would keep it a creditor is not going to replace a card with bad history i would be surprised this card you own is still good
3. It's better to keep the card open and only use it at least once every 6 months or so to keep it current. I was wondering the same thing so I researched it and apparently it looks GOOD on your credit report to have credit available that you aren't using.. it shows you are responsible with the credit that has been offered to you. And using it every 6 months or so keeps it so it looks more current. It is better to have open, long standing accounts..
4. Cancelling the old card won't fix your credit. You're better off just keeping the old card.