Keep 'em amenable or close them? I got into some financial trouble in 2002, and completed up

I got into some financial trouble in 2002, and completed up declaring bankruptcy contained by 2004. Ever since then I've tried to manage my debts fussily, build up my credit (it's at about 660-670 now), and spent more wisely.
Just concluding week two old creditors on credit cards I stopped using long ago, around 2001, sent me 2 new cards (same old-fashioned account numbers) totalling $52,000 in available credit!
My sound out is this - should I keep them open to somehow craft my available credit look better (and cut up the cards) for some reason, or should I close the accounts where they're at - $0? The interest rates on them are both contained by the high 14's, higher than the two other cards I use infrequently to build credit.
What should I do??

close it when it reach $0,-
you've get one, so you wouldn't need the another, believe me
both can bothering you sometime, so choose one of credit card which better for you

too much credit will hurt you. i got a vein of credit and had to cut some cards up as part of the business but in long run i have more credit immediately. look at the big picture and what is your long term goals, consequently go to a bank or financial instution and have a word to them about wut is best for you and your goals. more credit is right if you really need it too much will hurt you if over do it

Either get rid of them or get the credit control lowered to five hundred dollars.and only use in crust of emergencies. There is no sense in getting surrounded by trouble again since you seem to be handling your finances wisely. Well, angelic luck.

Close them because the 52000.00 is open debt and can be used against your credit score. To verbs building credit manage your debt keep balance low with timely payments and don't forget to order your free credit report annually to check for errors

u know, i've heard a reality that 1 american people holds minimum 2 credit cards...and u know what...that's bad...
1 is satisfactory i think...too much credit will simply "kill you" surrounded by the future...
that's just my thoughts though....it's adjectives up to u... =)

If you are trying to increase your credit score, closing a credit card story will tend to decrease it. If you trust yourself not to use the cards, don't cancel the accounts.

I infer I remember seeing this on the Suze Orman show.

Answer:
Danial C and alta marea hold the only wise and researched answers here. The rest are (yup, you guess it) MORONS!

Just one grill....did you file for Chapter 13 and are you still on making plan payments? Or are you now discharged?

If you are still within active bankruptcy, you can not use those cards at adjectives without getting the trustee extremely upset at you. But you do NOT have to close them.

You don't want to close an influential source of credit after a bankruptcy anyway! You may NEVER get another shot at getting credit, and indeed not at a low interest rate. Many people get socked next to an 18% to 25% following bankruptcy.

Closing those cards WILL lower your score. You will lose a portion of your "good" credit history, and hurt your "debt/credit" ratio.

What I would incontestably do is take alta marea's advice, and attain the credit limit lowered to $500 each. Having too much available credit make potential lenders nervous, and I seriously doubt you have a requirement for $52k in credit. It also removes the temptation to spend it.

Note that the folks who developed the FICA credit scoring system do recommend you enjoy between 3-5 sources of credit (like credit cards) so if you have 4 now, it's not that central of a deal and doesn't justify canceling cards nonetheless. Just keep doing what you are doing, and your credit will eventually overcome your recent bankruptcy.

Visit http://www.lifeafterbankruptcy.com... for some other great direction. This is one of the better sources I've found on the web.

Just one other note to adjectives those people who criticize my advice, and my anti-creditor attitude......can any of you prove a credit card company giving a recently bankrupt character $52K in credit? Anyone want to try?

sure why not, you can take the 52k to the casino too after wooo hooooo! Vegas baby.

As long as you really don't owe these guys, and this is not a sting, why do you call for to re- appy for your own open credit card?

I work in the banking industry and the smartest entity for you is to keep them opened. If you close out the cards you will see an automatic reduction in your credit score by one hundred points or more when the closed accounts show up on our credit contained by two months. Leaving the cards opened and not using them will leave you're total dimensions opened and after a while that total capacity will increase thus raise your score even further. So whether you keep the cards within your wallet or the trash don't close out the accounts.

you want to becareful when you close revolving credit acccounts. When you close a credit card, you are deleting the history you've built up on that card. So if you done a biddable job of paying off your debt and not defaulting and you own that history, why get rid of it? It helps you b/c it give depth to your credit. When you close credit card account, make sure you close the up-to-the-minute card first and work your way backwards.

Common misconception people enjoy is that they think it hurts you to have a credit card and not use it. Not so. So if this is a card that you've have for many years, I would keep it and close some of your newer cards. Just do paperwork your spending ... if you can't, then keep that side open and shred the cards.

Also, you want becareful about limiting your flash of credit. Limiting your line of credit can hurt your credit score from a debt to available credit ratio. The better the ratio, the better your score can potential be, b/c it suggests to the lender that you are not over stretched. Keep shrinking your credit lines and it gives the perception that you are stretched to your max.

Just build sure it think it through before you agree on anything.

You should never save unwanted or unnecessary credit accounts open, never know when that info could fall into the wrong hand and if you're not using them everyday someone could run up thousands on them before you even realize.

I love Studly, he never speaks without knowing what he's talking roughly speaking and he keeps it real. $52K is deeply, just lower your limits and don't use them.