I am really hoping to get some good advice about closing credit cards because I made a huge mistake. But I have definitely learned my lesson. A few years ago I opened a credit card with my boyfriend. Now, we are no longer together. He is paying the credit card off (cause he spent the money) and I am just waiting for it to be paid off so we can close it. I know closing credit cards is very bad, but in this situation I have no choice. Is there anything I can do to offset the hit when I do end up closing the credit card. Should I open up another credit card right now, so when I close the old credit card the new credit card will earn some credit age and I will not loose credit? I have a good credit score and worked hard fixing all my finance mistakes in the past. I just have this one loose end I need to fix. The credit card we have open together is a Macy’s Amex card (which btw was such a mistake to open of all cards I could have opened).
Any advice is much appreciated.