Credit Tips: Should I Get Rid of Some Credit Cards?

Posted On: September 1, 2006

Author: tomkat0699
Posted: Fri Dec 19, 2003 7:03 pm
Post subject: should i get rid of some cards?

First let me say that I am so relieved… I believe I have finally found somewhere to get answers.
I have paid off 6000 in credit card debt along with 5000 in high interest loans through a year of HARD work . I am so relieved that my debt is lifted… but now I need to improve my rating .
I was about to close 5 of my 7 cards and stopped when researching info on ratings. Is it better to leave them open? If not how many should I keep? I currently have 3 secured loans totaling 11000 and 7 cards with zero balances with interest rates varying from 13.9 to 24.9. I would like to find a good card with a low interest rate as I am returning to college and may need a small amount of a cushion. I have not applied for any credit for 7 mos.I dont know if this is poss with my rating of 645.
I also have a recent derog on my credit with nat recov agency due to a prob with blue cross. Is there any way to remove this from my credit since it was not my fault?(It was just a waiting game)
Any help would be greatly appreciated. Thanks in advance!!

Author: Guest
Posted: Sat Dec 20, 2003 5:37 am
Post subject:

keep the oldest credit cards and get rid of 2or3 of the newer ones with high APR’s and try disputing that negative item and ask for validation from the Collection agency that has that account on your credit, and keep you utilization under 20% at all times for the best score,