New to credit, have a question about closing cards?

[Anonymous]

Good afternoon guys!
I'm sn0w! I am 21 years old and getting ready to buy a home. I have a few questions!
I have a few cards I would like to close, they're just not flexing well with my other cards, have not ever been used, and are small limits. 2 have been open less then a year. I just dont feel like they suit my credit profile well.
I have several credit cards, one worth $11,000 and a few between 5-7. The ones I am looking to close are $1,000 or less. They were opened with good intentions but just haven't scaled. I'm bothered by them and dont feel as if they're going to fit well.
Ones a Cap one and ones a Sync Bank.
How far will they drag me down by closing them?
My oldest is 5 years currently.

Thanks
Sn0w

[Anonymous]

I wouldn't close any cards shortly before buying a home (unless your lender wants you too).

After you own the home feel free to close cards you don't like, as long as none of them are your oldest card.  And of course, always make sure the balance is zero and there are no upcoming interest charges.

[Anonymous]

I really appreciate the fast response! I have just gone through my pre-approval.. but the markets kinda looking ugly with my budget. With as picky as me and my fiancee are I foresee this taking us a couple years to find something and close (we are certainly in 0 rush). Do you feel like this would still be a matter that would be affecting me or would I be okay by then?

[jamie123]

During your final loan approval process your credit reports will undergo a manual review. This is where a credit analyst will physically look at your reports and verify that all the information is accurate. Loan officers and analysts like to see a 1 year quiet period before you apply for a mortgage. If you have information that changes in the year before you apply for your mortgage they may ask you to write a letter explaining why the information changed.

I would highly suggest that you do NOTHING with your credit in the year leading to a mortgage app. As long as your scores are okay just keep paying your bills on time and use credit sparingly. Set up the AZEO technique and keep it there until the mortgage closes.

Good luck!