You don't want to close accounts that have been open for a long time...and it is better to have lots of available credit than a little....what is looked at is the ratio of how much you owe to how much you have available...so if you have 50K available in credit and you use 10K of that, you are only using 20% of your available credit...on the other hand, if you close some of your credit cards and then only have $15K available and you charge 10K, now you're using 67% of your available credit, which looks worse to the credit companies... also, the longer the accounts have been open the better they reflect on your credit score, so you don't want to close accounts that you've had for a long time... check out this link.. How Your FICO® Credit Score is Calculated - myFICO.com myfico.com has some great info and advice.