I'm not sure what to do. I've gone and read through a few of the long discussions regarding credit history and closing accounts but none of it seems relevant to my situation.
Basically, I got too many new cards last year. Between December 07 and June 08, I got six cards. Three are store cards, one is a larger limit ($15000), and 2 small/medium limit ($6000. I am 24. I have other CC's that I've had since I was 18. Only one card has ever carried a balance (a furniture card that had a year no interest), but that is paid off. For all other cards, I've never carried a balance. My total credit limit for all my cards is roughly $40000. I seldom spend more than $1200 between 2 cards per month, and I pay it off in full month.
My problem: My score was lowered because I have too many recent credit applications. How much I'm not exactly sure but I know 10 points for sure.
My question: Is there anything I can do to make the situation better in the short term? Would it help my score to cancel 2 furniture store cards that I've had less than 12 months. They have $0 balances. The combined limit of them is $7000.
Any suggestions are appreciated! Thanks.
Message Edited by xeon on 01-06-2009 11:59 PM
