Closed accounts question

[Anonymous]

I have several CC's I opened in 2005 and 2006 to transfer balances at 0% so I could pay down some of my balances cheaply.  Then once the 0% ran out, I transferred the balance again and closed the accounts.  So now I have these accounts that I have closed but are still being reported.  The myFico report I got the other day says my score is being negatively impacted by the number of accounts being reported.  I figure these accounts are also decreasing the average age of my accounts (unless that calc only factors in open accounts - not sure).  And closing them won't hurt my utl's, cuz they're already closed. 

So my question is, is there any way to get these closed accounts not to report?  And if so, is there any harm to my score in doing so? 

Thanks for you help everyone.

[marty56]

I didnt think the number of accounts would have a negative affect on your score since your usage to CL usage ratio would be lower which raises your score.

I didnt think closing accounts was ever a good idea in terms of your FICO score.  They are people in this froum who could answer better though,

[Anonymous]

I didn't know it either.  But I obtained the "My FICO-Standard" report from this website and in the "Credit at a Glance" section, it reports that the total number of accounts I have is 32 (agree that's a lot, but most of them are closed).  Then there is a red flag next to it that explains "this marks an aspect of your credit that is hurting your FICO score."  It caught me off guard since I knew I only have a few accounts open.

[MidnightVoice]

They drop off 10 years after they were closed

[Anonymous]

It's generally a good idea to keep your accounts open, instead of closing them. It adds to your credit history, and your utils.

It's said here, that don't close an account unless it's costing you money(annual fees, monthly fees, maintainance fees, etc)

And no, no way to get them off your report, as they reflect accurately your credit history. Sorry.

What you COULD do, is go back to the ccc's and ask them to reopen the accounts, to have those active trade lines back in there.

Sometimes it works, sometimes it doesn't.

[Anonymous]

Interesting idea, Sylvia.  I never considered that.  I closed the accounts well before I knew anything about credit scores, reporting, etc.  My mistake, unfortunately. 

Thanks for the help everyone.

[Anonymous]

ae, we can all say that. Me included. There was my pre-myFiCO, credit coma days, and now there is....now.

[haulingthescoreup]

I remember another thread 2-3 months ago with the same thing --a flag on screen 4 for too many total accounts. Seems like there was a lot of discussion about it back and forth...

found it:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=10004

[Anonymous]

Thanks Hauling.  That thread was very helpful.  If anyone has any thoughts they'd like to share, I have a couple other questions:

1) Does transferring a balance to a card you already have open result in an INQ and ding your score?

2) Is it possible to have to much available credit before applying for a mortgage?  I currently have between $45,000-$55,000 of available credit on my revolving CC's and will be purchasing a home next summer.

[Creditaddict]

no the transfer will not ding you.. just util.

2. there is a such a thing as to much... but that's based on how you use what you have and your income and stuff.

If your not using much of your credit than you are probably fine