Older accounts “golden” when it comes to credit score

Older accounts There's a lot of contradictory information floating around about ways you can raise your credit score, especially with regards to what credit card accounts to keep.

Some experts advise spenders to pay off a card and then immediately close it. Others say that keeping cards open can help boost your score. Of course, this isn't always the case – sometimes having too many credit cards can lower your score as well. It's a tricky game, and confusing to non-experts. Fortunately, some well-versed analysts can help.

The Deseret News recently talked to Al Bingham, author of "The Road to 850," a book about credit score strategies. Bingham also works for a mortgage company.

His advice with credit card accounts was that it basically varies from person to person, depending on the history of the accounts and how much credit a borrower has access to. However, one thing he did recommend was to never close old accounts, as buyers lose the history that goes with them.

"Never close them, they are golden," he told the news source. "The value they bring to the credit score is huge."

It's safe to say that drivers looking to close down accounts should target the newer cards first. However, if they don't want to use their old accounts anymore, they can still keep it active. Making a small purchase with them each month and paying it off in full is a good strategy to keep old accounts active and contributing positively to your credit score.