CC and Closing them and AMEX

Discussion in 'Credit Talk' started by jfpruitt, Jun 21, 2001.

  1. jfpruitt

    jfpruitt Well-Known Member

    Question: I'm consolidating all my bills onto one low interest loan. I'm going to keep 5 of my current cards open and close the rest. I'm keeping 2 Visa's, Sears, Best Buy, and Dillards. Should I keep the rest open?? I've heard too much open is bad on your credit?? If I just keep the 5, should I keep a balance on them or never use them? I'm just now getting a large debt transfered to this loan and dont want to charge again unless is going to help raise my FICO score....

    Also, I have just gotton a AMEX recently were you pay your full balance at the end of the month and there is no set credit line, I've been reading these messages that say they are bad on your credit, is this true??????

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