Can I close some of my credit cards that I no longer use? Will that negatively impact my credit score?

I am currently enrolled in the program path to Apple Card. I am wondering if closing some of my credit cards that no longer service my needs will negatively impact my credit score

iPhone 11 Pro Max, iOS 16

Posted on Jul 13, 2024 9:57 AM

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2 replies

Jul 13, 2024 11:56 AM in response to Teekay0714

Closing an account lowers your total available credit, which will raise your utilization. Utilization accounts for 30% of your FICO score. Closing accounts and thereby raising your utilization will negatively impact your FICO score/rating.


In addition, if you’re planning a major purchase (home or auto purchase/lease) in the next 1 to 2 years, closing accounts may mean a higher interest rate charged by the lender.


Really, the only reason to close an account is because they’re charging an annual fee and offering few or no rewards.



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Can I close some of my credit cards that I no longer use? Will that negatively impact my credit score?

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