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I'm trying to clean up my credit so that I can apply for an FHA loan.Should I delete the old accounts showing a good payment history or not? I need to raise my score and I'm not sure which way to go.I certainly do not want to do anything to lower my score.These accounts are 5-9 years old.
If the account has an age less than your current average age of accounts, it could improve your lenght of credit history scoring. Just do the math.
Additionally, if a CC, if its CL is low, then the loss of that amount in calculating your % util of revolving would not have much impact.
However, accounts with a postivie credit history can look favorable upon a manual review, and that alone is usually a good reason to keep them.
Usually not recommended to ask for deletion of positive tradelines.
Well, someone told me to delete all the old stuff to raise my score which didn't make sense to me.I have no knowledge on what is good and what is not.