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  #1  
Old 04-07-2013, 03:13 AM
FinancialNewbie FinancialNewbie is offline
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Default 8 Credit Lines... Should I close a few of them?

I am currently paying them all off and some of them are already close to zero balance. Should I close a few of them because I literally don't use them anymore, or should I use them for small stuff such as gas, etc. and pay them every month? Basically, use the credit cards every now and then just to show I can keep a credit line intact.

What would be better for my overall credit score in the long run?
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Old 05-16-2013, 02:54 AM
collateraldmg collateraldmg is offline
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Default Re: 8 Credit Lines... Should I close a few of them?

If you plan to close a few of your credit cards, make sure you only close the most recent few. This is because the oldest credit card account may reflect your longest credit history. In other words, old accounts establish a history which, if all payments were on time and never late, shows creditors/lenders that you can be financially responsible.

In other cases, paying off debts such as student loans, mortgage, cars etc can lower your credit score. How ridiculous is that right...
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Old 05-16-2013, 04:10 PM
littleroc02us littleroc02us is offline
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Default Re: 8 Credit Lines... Should I close a few of them?

Did someone actually think that whomever created the FICO score requirements had any common sense??? ha ha
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Old 08-07-2015, 09:15 AM
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Richard Johnson Richard Johnson is offline
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Default Re: 8 Credit Lines... Should I close a few of them?

i have 4 chase accounts 2 are circuit city accounts since circuit city dosent exist should i close them?
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