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Don't Cancel Old Credit Cards

The reason not to cancel a credit card is because the average age of your credit is important. 

If you do not have a loan like a house payment that you have paid for several years your oldest credit history account is probably a credit card.  

If the average age of all of your credit cards is less than six or seven years your score will not be able to build an over 800 Credit Score.


I have acquired a lot of credit cards through the years.  Many of them after I get the bonus I will quit using.  It usually takes a year or three for the company to delete that credit card account. 

Long Term Credit Cards 

However I have four cards that I have had for over ten years.  I make sure I use them some so they do not get cancelled.  A few times a year is enough to keep the cards active.

How to Keep Credit Active

If you do not have a home loan it is a good idea to keep a good credit score to have at least two old credit cards active.  You do not need to ever carry a balance on your cards to keep them active, just make a purchase or two every year. 

If your credit score is not as high as you want and you delete a ten year old credit card it will probably drop.  

Always be aware your Average age of credit will ???


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