Was wondering

[Anonymous]

I was wondering now that I have purchased a new vehicle and closed on a VA loan in September, would it be wise or ok for me to close my two secured credit cards? One is through First Progress and the other through Open Sky. I use them alternating months so my utilization stays good.

Will my mortgage and Vehicle loan be enough to keep my score up and climbing, here is a list of bad stuff on my report. 

CO - walmart / zero balance / DOFD 1 may 2010

CO - Sams club / zero balance / DOFD 1 may 2010

CO - Lowes / zero balance / DOFD 1 Aug 2010

CO - Cap One / zero balance / DOFD 1 jun 2010.

[Anonymous]

Your mortgage and your car loan take car of the installment loan portion of your score.

However, to optimize your score you should have 3 revolving (CC) accounts.......it's always up to you as to if you want to close an account - but if you are still trying to grow your score, I'd keep them until you are able to get an unsecured card.

[Anonymous]

If you have a home loan then I would go to my bank and get a card through your own bank. Even if they start you as a secured or a low credit limit say $300.00 , usuallly after 6 to 8 months of ontime payments the card will change to an unsecured card. I would go this route because you already have a relationship with your personal bank and it will benefit you in the end.

[Anonymous]

If you close them, your scores will drop for not having active, open revolving accounts. I would get a couple of unsecured accounts established before closing them. I would suggest a couple of Capital One cards. Don't worry about UTI at this point, since your main goals of the auto loan and the mortgage have been achieved. Just don't max them out.