Quote:
Originally Posted by neoflex
Just have a question as I am far from a credit expert to say the least. If he closes out a lot of his credit cards at one time wouldn't that also reflect negatively on his credit report? Just asking as I have heard this in the past but never could understand how this would reflect badly on a person although a few years ago I paid off most of my debt and canceled most of my cards except for a couple. Just curious.
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From personal experience, I can't see that being accurate if what you are closing is accounts with $0 balance and if you are closing them voluntarily at your request.
I had an onslaught of cards I never used. They were just there. I closed out about 10 in one month and my credit score jumped up in only a couple of months from 740 to 780. Didn't affect me anyway but positive.