Credit Cards

[hanniss]

Hello All!

Great forum!

I have 9 credit cards and other non-revolving debt.  Average CL is around $5000 on credit cards.  Average age of card is four years.  I opened an Orchard Bank cc six months ago.  CL is $300.  If I close this account, will it increase my score?

Thanks much, Hanniss

[Timothy]

Nope-unless it will affect your UTL balances/CL's
Good news is won't decrease it either.

Welcome to my 9 credit cards/ 4 year avg TL

This question sounds familiar-

group.

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hanniss wrote:

Hello All!

Great forum!

I have 9 credit cards and other non-revolving debt. Average CL is around $5000 on credit cards. Average age of card is four years. I opened an Orchard Bank cc six months ago. CL is $300. If I close this account, will it increase my score?

Thanks much, Hanniss

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[Cooneyca]

One side bar to Timothy's answer, make sure if you close any CC that the balance is already at 0.  It does hurt to close accounts which still have balances on them

Carol