maybe re-open 1 or get a new one, but good job on paying off your balance each time...if i read that right. so many people make the mistake of stacking endless charges and only paying the min. each month. i only spend a small amt. on my credit card and pay it off in full and my credit report shows 'exceptional payment history' and my score keeps jumping up. and i only have 1 credit card.
i wouldn't co-sign with anyone for anything! if they miss a payment or are late, etc. it also reflects on you. there's a ton of small limit credit cards and even secured cards you can look into. https://www.comparecards.com/best-credit-card-offers?&source=adwords&campaign=[phone number removed]...
Don’t ever close a credit card account. It will have a negative effect on your score.
Just remember to use the cards every once in a while (and pay off!) to make sure the issuers don't cancel them for inactivity. I had a handful close last year for just that reason, including my Barnes & Noble card, which had my longest credit history. I started using my Amazon Prime Visa for everything a while back and hadn't realized it had been over a year for the others until my credit scores started dipping.
Now we are going to buy a new home and want to raise our scores a few more points to move from good to excellent.
I have three major credit cards, and two store cards. Is it better to close the store cards and keep to one or two of the major cards? The store cards have no balance at the moment. I ask because i always thought it was better on your credit score if you the customer closed accounts, also the less open lines of credit you have the better. true/false
IMO you have too many accounts. If you dont plan to use those store cards close them. Now why do you have 3 credit cards? Makes more sense to just to keep the credit card with the longest account history (hopefully its your favorite card) and take the biggest credit limit that you can. Now just to be clear, doing all this will hurt your credit in the short term... But its gonna boost you BIG in the long term. Just take a hit for the team for now unless you're planning on a big purchase (house, or house, or did I mention house?) within the next 1-3 years. If thats not the case however. Close them and simplify your life and improve your credit score.
My OWN view- don't worry about it so much! Concentrate on your own Financial health, and not having to RELY on credit so much. I know for SOME, credit is very important. Once I STOPPED using credit constantly, I finally got my $$ on a firm footing, and for the 1st time, my credit SCORE has never looked so GOOD! Because I USE it minimally, just for appearances, basically. But that's ME. -Al
I got rid of ALL my cards after running up too much debt. After paying them off, I did without them and took more prudent control of my $$, stopped buying 'stuff', started saving & investing little by little, then got 1 card- and my score is looking OK for the 1st time.