Ask Stacy: Should I Cancel My Unused Credit Cards?

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Depressed-looking woman with hand full of credit cards.
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Welcome to “Ask Stacy,” a new video feature on Money Talks News. Most weekdays, I’ll answer a money question sent in by a reader or viewer. (Learn how to send in a question of your own below.)

Today’s question is one I get asked often: Should you cancel unused credit cards? It seems straightforward, until you realize that the length of your credit history plays a part in your credit score.

Here’s what I think.

We have all kinds of additional credit card advice. For more information on this topic, check out “Ask Stacy: Will Canceling Credit Cards Hurt My Credit Score?” If you’re searching for a better credit card, visit this page of our Solutions Center. For anything else related to credit cards simply go to the top of the page and do a search for “credit card.”

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The questions I’m likeliest to answer are those that will interest other readers. In other words, don’t ask for super-specific advice that applies only to you. And if I don’t get to your question, promise not to hate me. I do my best, but I get a lot more questions than I have time to answer.

About me

I founded Money Talks News in 1991. I’m a CPA, and have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

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Got more money questions? Browse lots more Ask Stacy answers here.