i recently got two new credit cards. ive had another credit card for years; i got it shortly after my first…

i recently got two new credit cards. ive had another credit card for years; i got it shortly after my first job. i dont need all three cards, so i am going to cancel the oldest one. will canceling it likely make my credit scores go up, go down, or stay the same?

i recently got two new credit cards. ive had another credit card for years; i got it shortly after my first job. i dont need all three cards, so i am going to cancel the oldest one. will canceling it likely make my credit scores go up, go down, or stay the same?

Answer

Brief Explanation:

Credit scores are affected by factors like credit - history length and credit utilization. Canceling the oldest card shortens credit history length and may increase credit utilization if other cards have balances, which usually lowers scores.

Answer:

Go down