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greeneysrke24

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Credit Card Payoff
I just got a home equity loan and paid off all credit card debt. I need to improve my credit score and I am not sure if I should close all or some of the credit card accounts or keep them open....what will help credit score the most?

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Keep the cards.

You don't have to use them a lot (might want to lock them up in a safe place), just keep them because their total credit limit and age are two positive factors in your credit score.  I don't like that you have a home equity loan to pay the cards off because a home equity loan is a 'secured' debt.  If you don't pay it on time, you could lose the house.  Credit card debt is an 'unsecured' debt because there is nothing [you have purchased with a credit card that could be sold to repay the lender.

Pay that home equity loan off as quickly as possible and never be late with that payment.

Please re-read the articles on credit that are here to improve your understanding of credit because that is the purpose of Credit Karma..  

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you went from Bad to Worse.

Bad was you had credit Card Debt,  and it was not really that bad,  just bad.   Credit Card Debt is unsecured debt.  

then you went an took out a Home Equity Loan on your House to pay off your Credit Card Debt.

DO NOT MAKE ANY LATE PAYMENTS and make sure you PAY OFF YOU HOME EQUITY LOAD AS FAST AS YOU CAN.

You need to read up on unsecured and Secured debt.

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