I Closed An Account

Today I finally made time to call one of my credit card companies to close a card. I hate that I have so many open lines of credit. So with that and knowing that this might decrease my FICO score, I closed CC#5. CC#5 was paid off sometime between November and December 2008. I believe I opened up a new card that had a 0% balance transfer and used that to pay it off. CC#5 had a crazy APR (something like 30%) because I was late on a payment (late 1 week; OOPS. I was in the middle of moving).

I want to close another card as well, CC#7. It's a Macy's card that has been paid off. I still get calls from an outsourced collection company regarding this card. Uhh, hello it's paid off. I don't know what when on with my information being turned to a collection's agency, but I owe Macy's a BIG FAT $0 and they are still calling me. Sometimes I pick up their call and say "hello" and then silence and let them talk their butt off while I put my phone down at work. Other times I just pick up and hang up. And I think they are getting sick of me because before they use to call 7x a day. Now they call 2x a day.

Anyways, yeah I just want to close all my cards eventually. When I have $0 debt, I hope to have 1 credit card with a really good rewards program that I will take advantage of. I will pay my balance off on a bimonthly basis or whatever is smart. Until then, I guess I have to outweight the good and the bad of canceling an account..