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mlmoore1969

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22 People Helped
closing credit cards
Would it hurt my credit score if I close the newly established credit cards with no balances, and keep the older established cards with higher balances? I do not plan on ever using the new credit cards, they were only opened for their instant discounts at the time of purchases.

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Top Contributor
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could hurt credit utilization

If you have higher balances on the older cards and then close other cards, it could hurt your credit utilization rates. Don't close the newer cards unless you will have less than 20% it utilization (total balances / total limits) after you close them. Obviously, if you're going to get hit with an annual fee, you may still want to consider closing them.

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