Credit Card Question - Mothering Forums

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#1 of 6 Old 03-03-2011, 02:02 PM - Thread Starter
 
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We have a lot of credit cards, but we don't use most of them and none carry a balance.  I know that in calculating credit score they look at the length of time you have had accounts open, so is it in our best interest just to keep them?  They aren't a temptation to use or anything...


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#2 of 6 Old 03-04-2011, 11:59 AM
 
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The longest credit and the available credit affect your score, so they are helping your credit. What are you using your credit score for?

If any have a fee, I would cancel, but if they are not causing you problems, I would just make sure to keep them active.

 


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#3 of 6 Old 03-04-2011, 04:22 PM - Thread Starter
 
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We aren't trying to buy a house or anything... I was just wondering if having too much available would hurt my credit score :)

 


Rachel, proud Army wife to my superhero.gif and SAHM to my crazy boys jumpers.gif... Trevor 4/08, Trenton 6/09 and Travis 10/10
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#4 of 6 Old 03-04-2011, 11:38 PM
 
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You can go to Credit Karma and play with scenarios (what if I cancel "this" card, etc...). 

 

That said, we ended up canceling our older cards because it just seemed like a PITA to keep them up.  It did drop our score several points, but wasn't that big of a deal for us.


 

 

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#5 of 6 Old 03-05-2011, 03:06 PM
 
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there is no such thing as having too much availible as I understand it.


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#6 of 6 Old 03-05-2011, 05:23 PM - Thread Starter
 
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Thanks guys :)  If the older accounts get closed for being inactive no big deal but I won't bother myself with them right now.  Especially because our car refi went thru!!! LOL


Rachel, proud Army wife to my superhero.gif and SAHM to my crazy boys jumpers.gif... Trevor 4/08, Trenton 6/09 and Travis 10/10
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