If I close two credit cards which are not being used, will my score improve?

[newtie]

My score is good but I'd like it to be better. I have a couple of credit cards which are active but not in use. Will closing these acounts improve my credit score?

[sjt]

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@newtie wrote:

My score is good but I'd like it to be better. I have a couple of credit cards which are active but not in use. Will closing these acounts improve my credit score?

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It depends on a number of things. If you close the two cards in questions it will reduce the credit available and may impact your utilization ratio. Is there a reason you want to close them?

[newtie]

When I opened the last one, I didnt know that simply opening a line of credit could effect my score. I thought that making payments on time was the only thing that effected it. The other one was opend for an emergency but was paid off almost immediatly and I havnt needed it since. Id just like to improve my score overall.

[sjt]

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@newtie wrote:

When I opened the last one, I didnt know that simply opening a line of credit could effect my score. I thought that making payments on time was the only thing that effected it. The other one was opend for an emergency but was paid off almost immediatly and I havnt needed it since. Id just like to improve my score overall.

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I recommend you keep these accounts and let them age. That is how your score will increase, as closing them will not increase your score.

[newtie]

I do have others that have age. One is 22 years (out of my 26 years) and one is about 8 years. the other is only since february of this year.

[sjt]

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newtie wrote:

I do have others that have age. One is 22 years (out of my 26 years) and one is about 8 years. the other is only since february of this year.

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Unless the accounts have annual fees I would keep it.

What are your scores and are there any negs on your report?

[newtie]

ok. My equifax is 726 and no negs

[sjt]

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@newtie wrote:

ok. My equifax is 726 and no negs

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With no negs and a long history the only thing I can think of is that you have balances on some of your accounts. Is that the case?

[guiness56]

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@newtie wrote:

My score is good but I'd like it to be better. I have a couple of credit cards which are active but not in use. Will closing these acounts improve my credit score?

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Closing a CC with no balance will not make your score go up or down.  You will maintain the AAoA on the closed cards but lose the CL being factored into your overall utilization.

If you carry high balances on any of your other cards it could affect your utilization and make your score drop.  If no balances there will be no immediate affect.