Improving credit score for purchasing properties

[Todd R.]

Is there anyone on here that is a credit specialist??  I have always heard the having credit cards open for long periods of time shows you have good length of credit. So, I dont want to pay off all credit cards because that would leave me with little left, but I can pay off a few... Should I pay off the newest cards that i have had open for only a few years first and close those accounts and leave the oldest credit accounts open that i have had for more than 10 years?   I have about 5 credit cards, not tons of debt maybe $12k total between the 5.... I would like to pay the newest 3 off and leave the last 2 open which i have had for 10 years... thanks

[Ernesto Hernandez]

Would love to help but you're not providing enough info. What are the real issues with your credit? Just high balances? 

A few tips:

Prioritize the high interest payments and "snowball" to the lower interest. 

Do not close out old accounts. The older the account the better. 

Call your card companies and ask for credit limit increases, its a ratio. The higher your limit, the lower your utilization rate. 

If you have any late payments, nicely ask them that in the spirit of being a customer see if they can help you out and remove them. If that fails, dispute the delinquencies. Oftentimes they don't do their due diligence and they get removed. 

Find someone you know well and trust. Have them add you as an authorized user to some of their good, clean, long term accounts. They'll be sent another card but you never have to see it. Shred it for all you care. 

Reddit has a great credit repair wiki in the Personal Finance sub forum.

I recently disputed a handful of old "dings" and went up about 50 points in a later of weeks.