Credit Cards

[busyone]

So as I continue to rebuild my credit I can get several different CC's.   If I choose 1 2 or 3 of them and use sparingly and pay,etc etc.

when my credit is built significantly, should I then close these cards to avoid the ridiculous annual fee?   I know closing an account can

cause an adverse and negative reaction to your overall credit score, but I won't at the time want to continue to pay the fee, or even heaven

forbid forget there's a annual fee and get a 30 because I forgot about it as I didn't use the card!!!!

What should I do when the time comes??

[RobertEG]

FICO likes to see multiple open revolving accounts, as it places heavy weighting on the showing of effective use of discretionary (revolving) credit, such as credit cards.

You should genearlly, after reaching a score in your rebuild that will qualify for no-fee, unsecured, and preferably bank cards, then have at least three such accounts before closing the fee or secured cards.

Where are you in your rebuild, particularly in attempts to remove or otherwise address delinquent accounts and prior derogs?

[busyone]

Fortunately I have come a long long way in rebuild efforts.

I filed for BK back in 2010, but it was never discharged,just dismissed. Therefore I still had all the 

collections on there as well as a few lates. Fortunately in time the majority have all fallen off my

report and there is just about 3-4 collections and the BK.  The lates have fallen off as well.  I have 

a few open CC's that I have never been late on. They are all unsecured. 

So if I were to close the ones with the annual fees would that be negative?

[Anonymous]

My goal is to have 4 CC with zero balances and one card holding a 28% utilization