i need help

[Anonymous]

i have many credit cards listed on my credit reports as "inactive in good standing" as far back as 1997. would it be better for my credit rating to close them and only have the few I currently use listed...or, if becuase i have had them for so long and they are in good standing i should keep them open?

[Anonymous]

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stephabloom wrote:

i have many credit cards listed on my credit reports as "inactive in good standing" as far back as 1997. would it be better for my credit rating to close them and only have the few I currently use listed...or, if becuase i have had them for so long and they are in good standing i should keep them open?

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As long as you know where they are and keep track of them so that you don't get any fraudulent charges why mess with them.  I would go out and rotate them just to bring them back to active status.

[Anonymous]

I agree with Brammy. Use them occasionally...maybe 2 or 3 times/year, then pif and put them away for the next go round

[haulingthescoreup]

They are actually HELPING you. Don't close them, unless you have a very, very good, well thought-out reason for doing so.

Check out fused's link for closing cards:

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=16915

[Red1Blue]

If they are close to 10 years old from the last activity, check with the issuer before you use them. They might try to pull a hard inq on your CR before they let you start using the card again. Hard Inq could cost you points on your CR temporarily. Check with the issuer and start using the cards. No reason to close the cards. They are helping you.