I had my Helig Meyers tradeline which began in 3/98 and I paid this off and closed in 4/00. And also my ARia will hit the 2 year mark in 6/01. Now I have held onto my Associates(hate this card) no balance and it will hit 2 yr mark in 7/01. Now should I still hold on to this or let it go now?? I guess it is better to have several cards hit the 2 yr mark or would it be okay to dump it now?? I realize that several years do the trick but this is what I have to work with at the moment. Mom
I think to close it is best. Mom of 3, I have been repeatedly told that having too many open accounts is bad news. 5 or 6 is supposed to be about right. I find it strange that some of the people here have 18 or 20 accounts. Maybe I am wrong but a limited number of high credit limit accounts helps more than 20 low limit accounts. You might want to ask Kristie about this when she is back from vacation.
RE: I think to close it is bes AGE has a lot to do with each indiviuals file. For example 20 low limit cards with years of good payment history would destroy even 5 or 6 credit lines of say 15,000 a piece. As Mom3 said it helps to have something to work with.
RE: I think to close it is bes Don't find it strange. It takes work, patience and discipline. It also takes credit management skills, but it is not hard to do. I saw no less than 5 individuals say they had between 20 and 30 accounts. I am not sure all of these are bank cards, but when I say I have 18, I mean 18 bank cards, that does not count dept. stores and other type of credit. Exercise your credit to make it grow. http://www.creditsense.com
