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I am young and have an excellent but short credit history. I have 3 credit cards currently. Two are through my bank, Chase, are only a couple years old, each currently carry zero balance and have low credit limits (2k) and high interest rates. The third is an American Express that is about a year old and currently carries a very small balance relative to the limit (4k). I have been offered new cards with much lower interest rates than the ones I have and I'm wondering if it is wise to accept them? If so, should I close my other zero balance credit card accounts so I don't have too many lines of credit open? Or will that make my credit history too brief and is that a more negative factor?
I guess it's not wise to close more than one credit card at once. Age of credit is certainly important today. It also proves your strength of managing credit in the eyes of your creditors. May be you could close one and then get a couple of new cards (that you're thinking of applying) before closing the others with higher interest.