topic Re: Too Many Cards in Rebuilding Your Credit

Too Many Cards

honeybrook1 — Wed, 28 May 2008 20:46:34 GMT

I have about 12 credit cards listed on my CR's, with about 9 of these currently open. One of those cards is an WFNNB/Express Card, which was opened in 1995. I've never really used it, it only has a CL of $300, and it's listed as inactive. Would it be wise to have this account deleted (Express has no record of it), even though it's a postive TL? My thinking is that this would be a good thing, since I have several cards that are older and decreasing the number of cards that I have would improve my score a bit.

I sincerely appreciate any and all imput...thanks in advance!:smileyhappy:

Re: Too Many Cards

Shnapple — Wed, 28 May 2008 20:52:33 GMT

honeybrook1 wrote:
I have about 12 credit cards listed on my CR's, with about 9 of these currently open. One of those cards is an WFNNB/Express Card, which was opened in 1995. I've never really used it, it only has a CL of $300, and it's listed as inactive. Would it be wise to have this account deleted (Express has no record of it), even though it's a postive TL? My thinking is that this would be a good thing, since I have several cards that are older and decreasing the number of cards that I have would improve my score a bit.

I sincerely appreciate any and all imput...thanks in advance!:smileyhappy:

A 13 year old account is pretty good especially if it has no negative info on it. I say keep it.

If it's inactive, deleting it shouldn't have much of an affect. I think?

Re: Too Many Cards

cheddar — Wed, 28 May 2008 20:53:18 GMT

honeybrook1 wrote:

I have about 12 credit cards listed on my CR's, with about 9 of these currently open. One of those cards is an WFNNB/Express Card, which was opened in 1995. I've never really used it, it only has a CL of $300, and it's listed as inactive. Would it be wise to have this account deleted (Express has no record of it), even though it's a postive TL? My thinking is that this would be a good thing, since I have several cards that are older and decreasing the number of cards that I have would improve my score a bit.

I sincerely appreciate any and all imput...thanks in advance!:smileyhappy:

This would not be a good idea. You don't have anywhere close to "too many" accounts.

Removing old closed or inactive accounts with excellent payment history is one of the most common mistakes people make. Those old accounts are HELPING you a great deal. Leave them alone until they fall off on their own. ;)

Re: Too Many Cards

honeybrook1 — Wed, 28 May 2008 22:54:25 GMT

Thanks cheddar and Shnapple...I'll leave it be.:smileyhappy: