Thanks to myFico too many cards

[kaye1003]

Thank you gdale6 I am going to do this tomorrow. FYI these are all my oldest accts. I just want to make sure it will not do much damage 

[gdale6]

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@kaye1003 wrote:

Thank you gdale6 I am going to do this tomorrow. FYI these are all my oldest accts. I just want to make sure it will not do much damage 

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The immediate effect of closing a card is the loss of its CL in the utilization category, it will not affect your AAoA as closed positive accounts remain on file for up to 10 years post close. So if your utlization balances are in order you should not see a negative effect from the closure(s).

[honky]

I would close the ones with an AF such as First Premier, but the low limit store cards I would simply shred and never use them again.  You will not have to manage or think about them, but they will still slightly help your overall utilization.  Also, they can remain on your report until 10 years after closed by creditor isntead of 10 years from today, helping your aaoa.

I dont know, I've only closed 1 card because I was simply mad at capone for the toy limit they had me stuck at.

[SevenNEW]

As others have advised, I would close a few with AF, and SD the others, especially the oldest ones. If you don't keep them in your wallet you don't have to worry about payments, except for the annual fee (but that is easy to write down on your calendar).

My strategy was always few and good cards, but I find this free site very helpful to manage them:

http://personalcapital.com/

[Anonymous]

+1