Re: Which accounts to close to improve Credit Rating?

"martin lynch" <odiegoogle@xxxxxxxxx> wrote...
I have more credit cards than I need. I'd like to know if closing
several of them will improve or worsen my credit rating. Or, if
either action will perhaps improve/worsen my credit in the short run,
but do the opposite in the long run (also considering the fact that I
NEVER carry a balance. I pay them in full every month).

Here are my cards:

#1 - Opened 1998. Credit limit $3,500
#2 - Opened in 2001. Credit limit $10,000
#3 - Opened in 2001. Credit limit $33,000 (yikes!)
#4 - Opened in 2004. Credit limit $3,800
#5 - Opened in 2007. Credit limit $5,000
#6 - Opened in 2008. Credit limit $10,000

I'd probably like to close 2 or 3 of them. And again, I pay all my
balances in full.

I'm curious as to how the credit limits, and the date the accounts
were opened will affect my rating when I choose which ones to close.

I suspect that even Fair Isaac itself would not give you a definitive answer
in advance...

I'd close #3 and #6, assuming you don't approach the limit of the rest.


.

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