Quote:
Originally posted by damasa
Having too much open credit can be seen as a risk. Closing accounts that aren't used isn't the best idea to do either. You could close one or two within the next six months or so but if you close five or six within that same time frame then your score may take a tiny tiny hit.
Of course these are just very minor things that shouldn't be reflected a year away when you are considering to buy a house.
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Thanks for the advice! I would probably close a maximum of three accounts with the highest credit limits. That would knock off around $28,000 of the available credit. If I did it now I would have a long time to recover if it affected my credit score.
Does it look bad on your credit report to have a closed acct? I don't want it to appear as if the accounts were closed by the creditors because I was a bad account holder.