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junkies245

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Is it bad for my credit to close two credit cards after i pay them?
I have 3 credit cards and I want to get rid of 2 (after paying them off) and get a credit card with travel rewards (so I'd have 2 in total), I was wondering if it's bad for my credit to close the two credit cards after I have paid the balance off.

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I would just apply for the card you want. There's no limit to how many credit cards you can have in your wallet, and a total of four isn't unusual at all. If you close the two you no longer want, your total utilization will increase, which could have a negative effect on your score. Your total number of accounts in good standing will be lower, which could also have a negative effect on your score. Your average age of accounts will remain the same though, because closed accounts are factored in to this.

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