Getting rid of unused Card
Date: Wed, 02/09/2011 - 09:55
So i'm looking for some advice on how to best proceed with these credits cards I have. Here's the story. Made some dumb decision at a young age and got myself into some Credit Card debt. Started opening numerous accounts and charging them up. I've since paid them all off, but here's the damage. I have 10 Credit/Charge Cards open all have zero balances on them now, but how do I go about getting rid of some.
I got:
1 card opened in '05.
6 (3 store cards) cards opened in '06.
1 Card opened in '07
1 card opened in '08.
1 Card(AMEX) opened in '10.
I am thinking I definitely want to keep the card from '05 for the credit history, but as far as the cards from '06 I was looking at keeping 1 store account and 1 credit card and keeping the card from '07 as well as the AMEX in '10. All (other than AMEX which is Pay in Full) have pretty high APR's, so i wanted to cancel cards and then request lower IRs. I want to buy a house here within the next 2-3 years so what do you experts think is the best plan to getting rid of all these accounts? Closing all at once? closing 1 monthly, etc.
Thanks,
Ry
I got:
1 card opened in '05.
6 (3 store cards) cards opened in '06.
1 Card opened in '07
1 card opened in '08.
1 Card(AMEX) opened in '10.
I am thinking I definitely want to keep the card from '05 for the credit history, but as far as the cards from '06 I was looking at keeping 1 store account and 1 credit card and keeping the card from '07 as well as the AMEX in '10. All (other than AMEX which is Pay in Full) have pretty high APR's, so i wanted to cancel cards and then request lower IRs. I want to buy a house here within the next 2-3 years so what do you experts think is the best plan to getting rid of all these accounts? Closing all at once? closing 1 monthly, etc.
Thanks,
Ry
As you have zero balance in all the 10 credit cards, so you can
As you have zero balance in all the 10 credit cards, so you can close the unused cards whenever you want. Ii will not drop your credit score.