Cancel credit card once paid off, or keep it active?

Doesn't circuit city visa give you ~ 5% reward of some kind for store purchases? You can keep it open and use it exclusively at the store.

In terms of credit scoring the only concern here is the average length of open accounts. So if you close this one and get new credit at some point in the future, your average would be lower than if you had kept it open. This difference may be negligible though for any purposes, so there's no clear cut advice for or against closing it.

If "Turcott Twitty" is a department store or other non-credit company you should always cancel these cards. In fact, you should never have a balance on a department store card. These will always cost you far more in the end.

If "Turcott Twitty" is a credit company and you already have a couple other credit cards, consider this: You should have about 2 credit cards total with low or zero balances on them. I would call "Turcott Twitty" and ask them to lower your rate, or ask your other ones to lower theirs. Then, whichever 2 you can get the lowest rates on, keep those and cancel the other ones.

There is not a penalty for having a credit card with a zero balance on it, but you may have annual fees to pay depending on the card company.

If you can exercise self-control and not use the card unless you know you have the money to pay it off - keep it open. Your credit score is partly based on the credit you have, versus the debt. So if you have low or no debt, but lots of credit available, it will raise your score.

However, this sounds like a department store charge card. Again, keeping this open with a zero balance doesn't hurt, and will only help your overall FICO score. But personally, I find these cards to be a hassle, because they send you a lot of promotional junk mail.

Since you have other credit cards, I would just close that card out. You won't be tempted to spend more money on that card. Cancel that account and shred that credit card!

Cancel it. If it's active, even though you're not using it, they can charge you interest on an open account.