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John2016

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Too many credit cards! Suggestions for canceling
I have way too many credit cards in which I hardly use any of them! How many at a time can I cancel and how far spaced out should I cancel them to not raise suspicion and affect my credit score? My income has increased over the years and now I don't need these credit cards and I'm afraid of holding on to so many that if anyone ever got a hold of them it could dig me into a deep debt! That's why I want to cancel them. Any suggestions?

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Instead of cancelling the cards wich can send your score dropping like a lead balloon, lock them up in a small safe you keep tucked away in your house. Or you can record all the information on the cards you are absolutly positive you'll never, ever use again and keep that in a safe, then destroy those cards.  Replace that information when cards are renewed, though many will be cancelled by the company due to no activity after a while. This way, youi can still retain a good score but not have to worry about someone compromising your credit.  You might want to re-read the articles on this site for additional information.

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