Saturday, April 2, 2011

How many credit cards is too many and is it better to consolidate into a larger sum account?

I have a fair amount of cards (4) that round out to about $5000 in credit. I'm in the process of paying them off fully (down to about 33% used and should be finished by the end of March) and I was wondering if it would be better to close some of the cards to open one with a larger sum. Two of them are store-specific so I thought maybe I could close three that aren't my actual bank and then try upgrading my bank credit card to a better credit amount. Thoughts?

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