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Question By
molivieri

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REALLY want to cancel oldest credit cards
So my 2 oldest credit cards and with the same company and they are crap, high rates and low limits. I have asked them numerous times to either lower the rate or increase the limit. they refuse each time saying i have missed payments on my reports (checked and there are none, even called the reporting bureau and they aggreed there is nothing there). My score is good over 740, but my remaining cards are only from the last 4 years. So I am worried I would take a big hit since the ones I want to cancel are the oldest ones...

BTW: I pay off those "old" cards every month


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Because of the age factor, I would advise keeping those cards but you don't have to use them.  Just lock them up someplace safe.  The issuers may eventually close them due to non-use, but that will hurt far less than if you were to close them.  I still have my old, high interest and low limit cards, and they are locked in my little safe.  They have a positive effect on my score so I let them be.

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