Hi everyone. I recently made the mistake of opening 7 store card accounts to broaden my credit mix. I already had 3 bank credit cards (low limits, less than two yrs old, no lates). I also have a car loan that's 4 1/2 years old with 1 late (2 yrs ago) that will be paid off in 6 mos. I have 1 charge off, and it falls off in a month. I was in th mid 600s when I got the store cards, and they lowered my AAOA, which I knew would happen. What I didn't anticipate was the 50 point hit that my score took. I'm assuming it was a combination of the inquiries and reduction in AAOA, although I don't know which had a greater impact. I'm debating whether I should cancel some of the store cards. I have no balances on them, no need for them , I only got them because I didn't have much of a credit "mix" in my file. If I were to cancel 4 or 5 of the store cards to boost my AAOA, will the closed accounts look bad on my report (even though I closed them)? Thanks for any input or advice regarding this. Have a great day folks.
