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Zoey1590

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Canceling unused CC. will that hurt my credit score?
I have to many

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Making the decision to cancel a credit card which is unused and how it affects your credit score is a variable you must weigh out.   You have to start by looking at your Utilization.   If the removing the credit line will increase your Utilization, this is not good if it will take you over 10%.  However, if you are prepared to pay down on other cards or you aready have minimal Utilization this can be of minor importance.  The next factor is your average age of accounts.  If this is your oldest card and it will reduce your average age, it can impact your score in a negative way.   However, if it is a recent card or one of your newest, it can actuall have a positive impact on the age of accounts.   The last factor is your number of accounts.   While the number is not a big item, this is a credit line which will not longer count for you and usually results in a slight reduction overall.   Its reference will remain.   If all the results would reflect a negative impact to your score, you may consider keeping it open and inactive.  Routinely, as long as you use it a time or two a year, this "may" be sufficient for the credit card to keep the item open.  If it comes with an annual fee, you can ask the credit card company to waive the fee.   If they do waive the fee, you may consider using it frequently over the next several months as a sign of appreication.  Even if you pay it off in full every month, the additional fees they collect from merchants could offset their loss.

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