Got some some money, now what?

Closing the accounts would hurt your score.

I would suggest that you pay off the cards that are hurting your budget the most and stay current on the others.

If they are all relatively close to one another in interest rates then I would set aside a minimum $1,000 as an emergency fund and then put the rest of the money toward the debt based on the balance due. Pay off the smallest amount first and work your way through each one. The only reason to consider revising this method is if you have a bunch of 0% cards and one card with the 30% rate. If the rates are close then you can pay off 5 of the 6 cards and only be left with the one 5k debt. Since your credit is good you might try to float that 5k to a lower interest or 0% card as a free balance transfer and pay off the other 5 cards.

I would not worry about paying and closing them affecting your credit too much. In my opinion the only reason to borrow money is for a house and maybe a car. If you have no debt and save around 20% down for either of those then you won???t have any difficulty getting good rates and terms as long as your credit is not scarred with bad debt and a bunch of slow pays.

So, are they considered closed if the cards expired and i dont use them. On my credit report, they show closed but they charge me annual fees?

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