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king6955

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Question about my score. Please help?
I recently needed to open a new credit card. My score went down due to the hard credit inquiry and the now shorter "age" of my credit cards.

I now have the money to pay all my cards down. Is it wise to just cancel my newest card so that the "age" will then help to improve my score. Thanks

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No, don't cancel it. If you wait about 6 months, your credit score will most likely rebound and if you use that new card wisely, keep your credit card utilization between 1%-20% and always under 30%, you may see your credit score rise above your previous score.

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Keep the Card as the short term damage is already done.  You have many years for the Age of Accounts to increase.   Pay off all of your account balances.   

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