Which accounts do I close first

[blowe]

All,

My wife has 39 open accounts on one of her reports which myFico flags as something we should fix. Which ones should I try to close first. Is there a clear priority here. Most of these accounts are old CC accounts that we don't use anymore. I just don't want to do something to hurt her credit.

Thx

[Anonymous]

39 lines are quite a bit, huh? well....it's generally not a good idea to close anything unless it costs you money. So close the ones that have annual fee and low Credit line. keep anything that has PRIME written over it:

AMEX

BOFA
WAMU
CITI
WELLS FARGO
CHASE

DISCOVER

everything else can be canned:

orchard

household

cap1

rirst premier

good luck.

[MidnightVoice]

---

montana wrote:

39 lines are quite a bit, huh? well....it's generally not a good idea to close anything unless it costs you money. So close the ones that have annual fee and low Credit line. keep anything that has PRIME written over it:

AMEX

BOFA
WAMU
CITI
WELLS FARGO
CHASE

DISCOVER

everything else can be canned:

orchard

household

cap1

rirst premier

good luck.

---

And KEEP OLD CARDS.  It keeps the average age up.  If you know your average age, get rid of a mix of cards that does not reduce it.

[fused]

---

blowe wrote:

All,

My wife has 39 open accounts on one of her reports which myFico flags as something we should fix. Which ones should I try to close first. Is there a clear priority here. Most of these accounts are old CC accounts that we don't use anymore. I just don't want to do something to hurt her credit.

Thx

---

What are your wife's scores?

[Anonymous]

How many of them are credit card accounts? Just wondering how many installments you have too that are open. Those might be hurting you and not the credit cards.

[Anonymous]

If you do close, please post here score changes if any. Thanks.

[blowe]

Wife scores are ...

TU: 767
EX: 801
EF: 776

Obviously we are not hurting here, but, as you can probably tell, I keep a tight reign on our credit history.

[blowe]

Thanks for the advice everyone. I'll start reviewing her open accounts.

[fused]

---

blowe wrote:

Thanks for the advice everyone. I'll start reviewing her open accounts.

---

I wouldn't change a thing both of your scores are A++++!

[Anonymous]

---

blowe wrote:

Wife scores are ...

TU: 767
EX: 801
EF: 776

Obviously we are not hurting here, but, as you can probably tell, I keep a tight reign on our credit history.

---

Dont let your wifes scores pass your scores.  I see that her score is close to your score.  My wife's score is slightly higher than mine and all I get is grief.  She wears the pants for now, but I will take my pants back.  Run up her cards while you can.  (no offense-just a little maritial competition humor)

Message Edited by monro411 on 09-14-2007 02:40 PM

Message Edited by monro411 on 09-14-2007 02:42 PM