Is it worth trying to get above 760?

[Anonymous]

I just paid off almost all my cc balances, refinanced my mortgage (at 4.4% APR  - yay!), got a new Fidelity Visa and got an increase in credit limit on a Chase visa that's about 3 years old to $21K.  My oldest account is about 6 years.  This is a big change for me - 10 years ago I was broke, renting, and 10k in debt.

I now have a 768 EQ FICO.  Are there any advantages (besides warm fuzzy feeling) to really pushing to get it up past 800 or so?  And I'd kind of like to close some of the older Visa accounts that I don't use, and cards like the Sears card that I got just to get a discount on appliances.  Would I get dinged if I do?

[MidnightVoice]

Personally I would let everything age gracefully and enjoy your score!

[Anonymous]

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@Anonymous wrote:

I just paid off almost all my cc balances, refinanced my mortgage (at 4.4% APR  - yay!), got a new Fidelity Visa and got an increase in credit limit on a Chase visa that's about 3 years old to $21K.  My oldest account is about 6 years.  This is a big change for me - 10 years ago I was broke, renting, and 10k in debt.

I now have a 768 EQ FICO.  Are there any advantages (besides warm fuzzy feeling) to really pushing to get it up past 800 or so?  And I'd kind of like to close some of the older Visa accounts that I don't use, and cards like the Sears card that I got just to get a discount on appliances.  Would I get dinged if I do?

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Congrats on the Score and the improvement in the last 10 years. I would not recommend closing out older cards. When cards are closed and in good standing they will stay on your report for 10 years. If they are open they will stay longer, helping your average age as well as overall age. It always best in my opinion to let good credit report as long as possible. If you need to put a purchase on one of your cards in an emergency your score would be lower than if they were open because you wouldnt have the same utility. You may see a small ding on your credit report with all cards reporting 0. It is best to have one card report a few dollars .  768 is a great score, but as scores go higher they are more finicky & can swing downward because of something as small as opening a new account or inquiries etc. So I'd say having some extra points above 760 to lose wouldnt hurt. The higher the better. Also with lowest acceptable score as far as lenders are concerned rising daily it couldnt hurt to be as high as possible there too! Just my opinion!! Good luck!!

[Anonymous]

Don't close anything. Sit back and relax - do nothing. Your accounts need to age.

You're sitting pretty.