ST Alpha - "canceling cards has a big effect on your credit score, afaik -- nm" (Reading a Post)

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In response to "Make a difference on what? Your credit score?" by TWuG

canceling cards has a big effect on your credit score, afaik -- nm

Posted by y kant pixie read (aka chris) Jan 6 '11, 14:06

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Responses:

I've failed to find a clear answer on this. I believe canceling older cards can hurt you (because average age of credit drops) - ty97 Jan 6, 14:08 1
- It also hurts because it affects the percentage of your credit that you're using, and that's a big factor. - Ender Jan 6, 14:23
It certainly can. I think the bigger a % of your available credit they represent, the bigger the hit. -- nm - TWuG Jan 6, 14:07

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