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cnm0

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Close older CC account or newer CC account?
I have 4 CC is it better to close a newer card or an older card? Also, is it better to pay an extra $100.00 on one CC or $25.00 extra on each of my four CCs?

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If you have to ? close newest account, longer accounts help your score.

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You really shouldn't close any unless you absolutely have to. If you do have to, then close the newer one, unless the credit limit on it is much higher than the older one, then you may want to close the older one instead. As to your question about how to pay your credit card debt, you would have to give numbers on amounts owed compared to credit lines and interest rates. Ask a new question with more details (no personal info) if you want a better answer on that.

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Close New Accounts first

Its always best to close newer account first over your oldest one, although you should consider credit utilization as a factor in your decision meaning that you shouldn't close accounts with a higher credit limit. Credit Utlization is far more important to your score than account age. That being said, closing newer accounts will have less of an impact on your average age of accounts that older reporting cards. Try not to close your oldest card. While I understand the rationale that you should "never close cards" under any circumstances, I really don't like keeping open cards I never use. I had a 1K card sitting around since college that I never used, had a high APR and a poor rewards program. The closed card won't have any immediate impact until it drops off your credit report in 7 years. I have a great credit score and I've closed close to six credit card accounts and my credit's been fine - sure it'll drop a little when you close, but who cares as long as you at a certain point.

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