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Dylatess, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 5142
Experience:  36 plus years consumer law practice
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Hello. I have about 10 credit cards with $0 balance and I

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Hello. I have about 10 credit cards with $0 balance and I have a credit score of 780. I am paying monthly fees for these cards from $10 to $20 even though I have not used them for years and do not need to keep all of them. My question is: If I cancel some of these credit card accounts, will it affect my excellent credit rating ? Any other advice you can give me since I just retired from teaching after 35 years?

Hello and welcome to Just Answer. For over 32 years, I have answered questions just like yours. And I look forward to assisting you.


We live in a credit society and ironically, the more you owe (providing you pay on time) helps maintain a high credit score. However, by eliminating the cards that have the smaller lines of credit will not decrease your score as your score is partially based on a larger line of credit and paying the balance in full (if applicable) So my advice is to look at the cards and eliminate at least half of them. Likewise, if you have not done so already, it is wise to talk to an attorney about setting up a will and a trust.

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