Tryst asked:
I currently have 3 credit cards and in good standings with all of them. I pay my bills on time and always more than the minimum.
I’m asking because I might cancel the Express and American Eagle card seeing that I have not used it in the past 4 months.
Open cards help your credit score by lowering the percentage of credit in use.
yes! Yes!
it will still be on your credit reporting up to 2 years.
But it was in good standing so it would not effect it that much.
Here’s the problem with what you’re wanting to do. Even though you may not be using it, closing the account especially after it’s established will do you more harm than good to close it by 1. decreasing the amount of available credit that you have making it look like you have more debt than available credit, 2. Shorten the average age of your accounts making it look like you’ve established credit more recently that you have, 3.Shorten the payment history on the accounts you have open, and 4. disrupt the mixture of revolving and installment accounts.
My advice would be to start use it again, but use it lightly, even if it’s like $20 a month, just enough to show activity to build credit. Credit is designed to where if you apply for it and get it, you sure better use it, and use it wisely, ir else your score will suffer.