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Too Many Cards

Regular Contributor

Too Many Cards

I have about 12 credit cards listed on my CR's, with about 9 of these currently open.  One of those cards is an WFNNB/Express Card, which was opened in 1995.  I've never really used it, it only has a CL of $300, and it's listed as inactive.  Would it be wise to have this account deleted (Express has no record of it), even though it's a postive TL?  My thinking is that this would be a good thing, since I have several cards that are older and decreasing the number of cards that I have would improve my score a bit. 
 
I sincerely appreciate any and all imput...thanks in advance!Smiley Happy

Starting Score: 718
Current Score: 718
Goal Score: 800


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Message 1 of 4
3 REPLIES
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Established Contributor

Re: Too Many Cards



honeybrook1 wrote:
I have about 12 credit cards listed on my CR's, with about 9 of these currently open.  One of those cards is an WFNNB/Express Card, which was opened in 1995.  I've never really used it, it only has a CL of $300, and it's listed as inactive.  Would it be wise to have this account deleted (Express has no record of it), even though it's a postive TL?  My thinking is that this would be a good thing, since I have several cards that are older and decreasing the number of cards that I have would improve my score a bit. 
 
I sincerely appreciate any and all imput...thanks in advance!Smiley Happy



A 13 year old account is pretty good especially if it has no negative info on it. I say keep it.
 
If it's inactive, deleting it shouldn't have much of an affect. I think?
 
 
 
FEB '08 FAKOs: TU 628 | EX 650 | EQ 584
JAN'09 FAKOs TU 686 | EX 705 | EQ 664
EQ FICO: FEB '08 646 | APR '08 678 | SEP '08 679
Message 2 of 4
Moderator Emeritus

Re: Too Many Cards



honeybrook1 wrote:
I have about 12 credit cards listed on my CR's, with about 9 of these currently open.  One of those cards is an WFNNB/Express Card, which was opened in 1995.  I've never really used it, it only has a CL of $300, and it's listed as inactive.  Would it be wise to have this account deleted (Express has no record of it), even though it's a postive TL?  My thinking is that this would be a good thing, since I have several cards that are older and decreasing the number of cards that I have would improve my score a bit. 
 
I sincerely appreciate any and all imput...thanks in advance!Smiley Happy


This would not be a good idea.  You don't have anywhere close to "too many" accounts.
 
Removing old closed or inactive accounts with excellent payment history is one of the most common mistakes people make.  Those old accounts are HELPING you a great deal.  Leave them alone until they fall off on their own. Smiley Wink
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 3 of 4
Regular Contributor

Re: Too Many Cards

Thanks cheddar and Shnapple...I'll leave it be.Smiley Happy

Starting Score: 718
Current Score: 718
Goal Score: 800


Take the FICO Fitness Challenge
Message 4 of 4