question about credit cards

bevo · #1 (**permalink**) 06-06-2010, 10:19 PM

Hi

New user. I have 4 credit cards right now. A discover card (open since 2000), a citi mastercard open since 1999. A visa schwab cc and a starwoods amex cc.

I wanted to decrease the number of cards I have open, but realized that the 2 cards I use the least are my 2 oldest credit cards.

Would it be better to keep them open and inactive? keep them open and maybe put a small bill on them to have some activity or cancel 1 or both of them?

Also, carry no debt.

Thanks

sapphirecapital · #2 (**permalink**) 06-07-2010, 02:41 AM

keep them all and use them once a month for smaller things

littleroc02us · #3 (**permalink**) 06-07-2010, 12:31 PM

My suggestion would be to close all of them. If you have a mortgage payment or school loan payment your credit score will only be hurt for a while. Mine is fine.

bevo · #4 (**permalink**) 06-07-2010, 09:44 PM

No mortgage payment. School loans which are being paid back currently.

littleroc02us · #5 (**permalink**) 06-08-2010, 11:20 AM

If it makes you feel better, keep only 1 open and then don't use it much and keep nothing on it.

sapphirecapital · #6 (**permalink**) 06-09-2010, 02:34 AM

for every card you close you take a 25 to 35 points hit on the credit file, better not use them, best use them with care and keep the credit file high, even if you are contra credit cards, they are the easiest to play the credit file game

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