Hello All,
New to the board and I like what I'm reading.
I'm just a little confused about a certain issue I have with some of my existing credit cards in which I have with a zero balance on.
I've seen in a previous discussion that its good to keep these cards and use them once and a while than pay the balance off.
My question is that I have 12 credit cards and only 4 of them have a balance on them. All the credit cards are at least a year old so would you say it would help or hurt my credit score if I was to cancel some of these cards, I am going to be cosigning for my daughters student loan and I want to get her the lowest possible interest rate.
Thank You in Advance
Norbert 
@Anonymous wrote:Hello All,
New to the board and I like what I'm reading.
I'm just a little confused about a certain issue I have with some of my existing credit cards in which I have with a zero balance on.
I've seen in a previous discussion that its good to keep these cards and use them once and a while than pay the balance off.
My question is that I have 12 credit cards and only 4 of them have a balance on them. All the credit cards are at least a year old so would you say it would help or hurt my credit score if I was to cancel some of these cards, I am going to be cosigning for my daughters student loan and I want to get her the lowest possible interest rate.
Thank You in Advance
Norbert
Closing them will not enhance your score, and may decrease your score by increasing the percentage utilization.
If you want to enhance your score, try this instead: let all accounts but one report at zero, and the other account report at 9% or less. You might pick up some points from that.
