topic Re: amount of CC's question in Credit Cards

amount of CC's question

Anonymous — Sun, 14 Oct 2007 16:18:31 GMT

I have a total of 7 CC's with combined total CL's of $5300.00. Three of these are store cards opened less than a year. Should I leave these cards open or close them? Their limit's total 900.00 of the 5300.00. I want to keep my major CC's but just wondering if I have too many. I have a mortage and car payment also. Just trying to figure out what would be the best thing for "healthy" credit. The reason for this question is sometime in the next year I want to buy a new house and want to get all of my ducks in a row. My credit is "blemished" but am working hard at fixing it.

Re: amount of CC's question

Anonymous — Sun, 14 Oct 2007 16:22:39 GMT

oogiemoo wrote:

I have a total of 7 CC's with combined total CL's of $5300.00. Three of these are store cards opened less than a year. Should I leave these cards open or close them? Their limit's total 900.00 of the 5300.00. I want to keep my major CC's but just wondering if I have too many. I have a mortage and car payment also. Just trying to figure out what would be the best thing for "healthy" credit. The reason for this question is sometime in the next year I want to buy a new house and want to get all of my ducks in a row. My credit is "blemished" but am working hard at fixing it.

You've already taken the hit and reaged your file by opening them. astick em in a sokdrawer and use them occasionally to keep them reporting or just don't use em at all and let them go inactive. Occasional use with help keep your uti down.

Message Edited by Brammy on 10-14-2007 12:22 PM

Re: amount of CC's question

Anonymous — Sun, 14 Oct 2007 21:25:14 GMT

ok Thanks Brammy! They are all snuggled down for a long slumber!

Re: amount of CC's question

smallfry — Sun, 14 Oct 2007 21:31:16 GMT

Number of CC's. Amount of water. Sorry.

Re: amount of CC's question

Anonymous — Sun, 14 Oct 2007 22:20:35 GMT

Uh oh... Are you not supposed to have a lot of CCs?

Brammy, I keep seeing you mention re-aging files. What exactly do you mean? Just adding a new card or eating into the overall avg account age?

I understand how age and average age work, maybe I'm just confused by the term "re-aging".

Re: amount of CC's question

Anonymous — Sun, 14 Oct 2007 22:57:50 GMT

db23 wrote:
Uh oh... Are you not supposed to have a lot of CCs?

Brammy, I keep seeing you mention re-aging files. What exactly do you mean? Just adding a new card or eating into the overall avg account age?

I understand how age and average age work, maybe I'm just confused by the term "re-aging".

Thats exact;y what I mean cutting into the average age of your accounts.