Your credit score is one of the most important assets you have, you need to be smart about how you protect it and increase the score, doing these requires you to be informed about what the best ways to do this area and to avoid the pitfalls that lower your score.

Is it a good idea to close a few outstanding accounts?

The biggest factor that creditors will ask themselves is can this person pay off this debt? what information can i use as proof of this question - they will look at your open accounts and your progress. Providing that your percentage of credit availability to amount paid off is not to high then you have proven that you can steadily pay off a loan and don't have a large access to immediate funds that you could get access, so closing account to increase your score is NOT the way to go. Look at these other methods:

1. Make sure you pay off debt rather than moving it all around. As mentioned above don't close unused cards as a short-term strategy to raise your score. Owing the same amount but having fewer open accounts may lower your score.
2. Try and pay your incoming bills on time. missed payments and collections will have a considerable negative impact on a score.
3. Apply for and open new credit accounts only as needed. Don't open accounts just to have a better credit mix -- it probably won't raise your score.
4. Make sure the information in your credit report is correct. It won't affect your score to request and check your own credit report. If you find errors, contact the credit reporting agency and your lender.
5. Try to maintain low balances especially on credit cards and other "revolving credit." High outstanding debt can affect a score.

When thinking of your Credit Report and the most important methods you can do to get the best possible score for your situation remember that a possible creditor is looking at your big picture - they are trying to build up a snapshot of your ability to pay the loan off - they will consider everything on the report but they will take into account eh last six most above all else. So if you are thinking of getting a loan then make sure you get access to your credit report at least six months prior to getting your loan, this way you have time to contact the credit bureaus to correct any incorrect information - yes it does happen - and you also have a period of time to fix up bad debts.