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JustMeAsking

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What if I cancel (unused) credit cards?
I have 2 credit cards that are about to expire. I am in VERY good standing with these creditors, but I'm not sure I need those cards anymore. I have reasonably high credit limits on these cards.

Are there ramifications to my credit if I cancel these cards? I am reluctant to do so, even though I use them quite sporadically.

THANKS!

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You will lose the amount of avbailable credit given by these cards, thus reducing your overall available credit limit, and that will hurt your credit score.

This topic is well covered in the articles on this site.

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getting rid of unwanted credit cards

please help, if you cancel unwanted credit cards is that a bad thing and if so what is the damage?

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