Went overboard with getting new cards

[Anonymous]

I started rebuilding my credit from a thin file about 2 1/2 years ago. I started with Cap one quicksilver with a 300$ limit that is now $3000. I then moved on to credit one at $300 which is now $700. Then VS and credit one. This year though I discovered the shopping card trick and well I now have six store cards. *gulp* I'm also an authorized buyer on some of my husband's higher limit cards like Cap one venture and Chase Freedom. I fear I need to close some, but I am worried about average account age. My FICO scores are currently TU (650) Eq (642) and EX (662) this up from 540 a year ago. I've also taken out a secured personal loan in order to have an installment loan on report.

[Anonymous]

Closing accounts won't affect AAoA at all -- they will report for 10 more years after closure.

What's your current utilization on every card versus the credit limit?

[Anonymous]

My credit utilization on store cards is between 0 to 10 percent. My other cards range from 15 percent to 30. My overall utilization is at 28 percent I believe.

[Anonymous]

See my signature for my credit helper spreadsheet and specifically look at the utilization tab and the AAoA calculator.

Aim for the AZEO balance pay down and see what your FICOs end up with when you get there. Then look at your AAoA forecast and see when you will bump up to the next year mark. No new credit until both happen and adding a new account won't drop your AAoA into the next lower year tier.

[Anonymous]

Thank you so much!! I will definitely look into that.