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Sould I cancel two credit cards opened in the last 12 months with low credit limits?

New Member

Sould I cancel two credit cards opened in the last 12 months with low credit limits?

For some reason I applyed for two different credit cards about a year ago and were approved.  One gave me only a $500 limit and the other gave me a $1200 limit.  My other credit cards are all more than ten years old, have very high credit limits (over $10,000), and have been used heavily.

 

Here is my question:  Maybe having these two new accounts, with low caps on my credit record hurts my FICO score.  Would cancelling them improve my score if I kept my score? (Average date of credit)

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Valued Contributor

Re: Sould I cancel two credit cards opened in the last 12 months with low credit limits?

Yes, they do some damage.

 

No, closing them will NOT help. Only time will help.

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