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revolving credit and old accounts???


fbcoach
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My wife and I paid off all of our credit cards. After we paid off her last two cards her credit score went down 20 points. Should we get 2-4 new cards so that we can have revolving credit accounts?? Will that help our scores?

My wife also has several old accounts (7+ years) on her report. Most of them were from when we refinanced our home 10 years ago and from when our mortgage was sold from one company to another. They are listed under closed accounts and as PAYS AS AGREED. Should I have them removed from her credit report??

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Closed accounts with a $0 balance are GOOD things. Leave them alone.

And...the FICO (and FAKO, for that matter) that you can see are the FICO "sucker" score...the one that says "here's a sucker that CCs can charge penalty and interest". When you have only $0 balance CCs, the sucker score goes down.

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