Nobody actually addressed the fact that except in very rare cases, balance transfers to not earn any miles. So you could spend whatever you like, but will probably only get miles 1 time - so you should spend on the ones with double miles, not try a balance transfer. And balance transfers often (not always) have large transaction costs associated with them.

And prncess674 - the Fair Isaacs folks who create the FICO score say that actually having more lines of credit open is a good thing (if you aren't using them), because a prime factor in calculating the score is the percentage of credit that you have that you are using. I don't know how other creditors look at multiple accounts, but I know the Fair Isaacs president said in an interview that there is a misconception about open accounts.

You are paying your balances every month, so it does not really sound like you have to worry. When buying a home,I canceled several unused cards. My loan agent told me the only thing that could raise my score (it is very high already), would be to NOT pay off my cards every month, and carry a small balance in at least three different accounts. You will have a different score with each of the three agencies, and it is not like a few points will generally make or break a decision to extend credit.

The main reason I close un-used cards is that I tend to get hit by fraud alot, and it is easier to keep tabs on less cards.

If you have no balances on those accts and you close them that will be no negative effects it will actually raise your score. Because it will reduce your outstanding aval. credit on revolving accounts.

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Sorry mama i gots to get all the miles i can

Brian

There are a couple of more issues that are not being addressed:

First of all, if you close out a couple of cards an you do carry balances on the others, this will raise your percentage of debt to outstanding availability and lower your FICO score

Second, part of your FICO score is based on your oldest open account - make sure you don't close accounts you have had forever

Finally, there is a bit of art to this score system. For example, we all know that too many credit requests will lower the score. At the same time however, applying for a receiving a card now and then will raise the score. You might want to go to the FICO web site and read up on all of these issues, however the acutally system is a black box and they will not get specific about how changes will effect you.