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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
Re: 1 less credit card

rudy wrote:
When reading Experian credit report. They are stating I have to many lines of credit. So to increase my credit score I have decided to reducr my lines of credit by 1 credit card to see what happens. I asked AMEX to transfer the credit line from one card to another and closed the previous card. Both cards had 1 yr history. Smart move or not?

Rudy, is this something off of your FICO Experian report, or off of a report directly from EX or one of the credit monitoring bureaus? Be very careful about the advice on non-FICO reports! It can actually damage your FICO score.

Since you combined two Amex cards and kept the total CL, that might not have hurt anything. Also, they were both newish cards.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007