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 Posted: Sat Jan 26, 2008 11:10 am Subject: Too many credit cards acounts! |
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I have too many credit card accounts, how do I figure out which ones to close as the oldest one have the lowest credit limits and the highest interest rates, all have zero balances!
Thanks in advance.
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Irish-lord
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Debtcc Points: 100
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| Posted: Sat Jan 26, 2008 1:05 pm Subject: |
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Closing old CC accounts can hurt your score, how old are the oldest ones? How old are the ones you are planning to keep?
Did someone tell you that you need to close some to help your score? You could always just not use them.
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LoneGunman
Joined: 14 Jan 2008
Posts: 226
Debtcc Points: 1629
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| Posted: Sat Jan 26, 2008 1:58 pm Subject: too many cc |
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If you carry no balance and only keep them for emergencies I would recommend just keeping the old ones even though they have higher interest rates. You may take a small hit on your credit score for closing a few new accounts but you should be able to easily bounce back within just a few months.
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smckaybiz
Joined: 19 Jan 2008
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