I have one credit card and 5 store credit cards. I don't use them much (the store cards I mean), am pretty regular with the payments, and haven't got outstanding balance. Got a fairly ok FICO score of around 750. I want to apply for a new VISA card, but heard that having too many store cards might count as a negative for me. Is that so? Should I close them now, or at least 3 of them, before taking on another card?

1 Answers
-2 votes
Vote up!
Vote down!

The score cards must have been helpful for your score, as you said that you've been handling them responsibly. Maintain them in good standing and don't close them as that would wipe off the history and lower your AAoA. Apply for the new card and see what happens.

Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

Last Updated on: Fri, 8 Jun 2018

BBB-A--Rating TrustLink logo TrustLink logo