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Question By
Kbarng19

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Is it better to cancel a credit card you're not using or just let it sit in your wallet?
Last year I took out store credit cards: Victoria's Secret, TJ Maxx, Amazon, Paypal, etc. I also have a mastercard and a visa. I have paid off all credit cards and while I want to keep my mastercard and visa for credit building capabilities, I no longer want the store cards. Is it better to cancel these cards or to just cut them up and keep the accounts open?

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If you don't use them, the creditor will cancel them after a while.  Once they are gone, your score will drop.  So, unless you want your score to drop right away, just leave them alone.  Or better yet, use them once a year to keep them alive and help your score.

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