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How many credit cards is best?

New Visitor

How many credit cards is best?

I have 5 credit cards, four with 0 balances.
 
Would it make sense to close 2 or 3--would it improve my score???
Message 1 of 3
2 REPLIES
Regular Contributor

Closing cards will not improve your score. The only real...

Closing cards will not improve your score. The only real reason to do that if they have annual fees or some other reason you don't want them.

In fact depending upon which you close, it may hurt as it will reduce your availible credit and thus affect utilization. Plus you'll stop getting the benefit of another long positive tradeline continuing. It will still stay on the report for some time, but this time may not be forever.
Message 2 of 3
Regular Contributor

I have 23 open credit cards. Number doesn't seem to make...

I have 23 open credit cards. Number doesn't seem to make a difference. How much I have on them: that makes a difference.
Message 3 of 3