Should I close some of these credit card accounts?

[Anonymous]

This is it.  I have no late payments. 

CC #1 store card  cl $1,560.  zero balance opened 1988

CC #2 is  Discover cl  5,000  zero balance opened june 2007 closed june 2008

CC #3 Citi  cl $9,000  balance 5,000 opened 2007

CC #4 CU visa  cl $10,000 zero balance opened 2007

CC # 5 store card  cl $1,700 zero balance opened 1997

CC #6 store card cl $2,000 zero balance opened 2007

 I have two installment car notes opened 2007 

I plan to pay off  CC #3 in next month and close the account.  Will this hurt my credit score? Do I currently have too much available credit?   Do I have too many revolving accounts opened?

[MidnightVoice]

Why do you want to close them?  Are they costing you money?

[iDShaDoW]

CC #1 & 5 are very old so the age of them helps your credit score.

The rest are helpful too due to the credit limits so if you pay them down your utilization % will be low which will help your score.

The only time you might really want to consider closing a credit card account is if you have to pay an annual fee on them.

Otherwise I'd probably pay them all off and just leave them open.

[Anonymous]

So, is there a such thing as having to much available credit?

[fused]

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VeeGee wrote:

So, is there a such thing as having to much available credit?

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No

[fused]

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VeeGee wrote:

This is it.  I have no late payments. 

CC #1 store card  cl $1,560.  zero balance opened 1988

CC #2 is  Discover cl  5,000  zero balance opened june 2007 closed june 2008

CC #3 Citi  cl $9,000  balance 5,000 opened 2007

CC #4 CU visa  cl $10,000 zero balance opened 2007

CC # 5 store card  cl $1,700 zero balance opened 1997

CC #6 store card cl $2,000 zero balance opened 2007

 I have two installment car notes opened 2007 

I plan to pay off  CC #3 in next month and close the account.  Will this hurt my credit score? Do I currently have too much available credit?   Do I have too many revolving accounts opened?

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Never close a CC with a balance reporting. Look at card #3