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Close out old credit cards?
A little over a year ago I got my first credit card, with basically no credit. No annual fee, but it has no grace period and a 24% APR (yikes!!). Since then I got two other cards with far better rates, and I don't really use the original card anymore except for my monthly gym membership because I'm too lazy to call them and change the CC number.
I typically charge a few hundred for normal living expenses and pay it off every month, only carrying a balance for a few months if I use it to travel, etc.
So what I'm wondering is how having that card I don't really use or need anymore affects my credit score. On one hand it means I'm using a much smaller percentage of my available credit which is a plus, but it's also that much more debt I could accumulate if I decided to max 'em all out. Plus I've heard that having too many cards can hurt your score. So I could see it affecting me either way. Any input on how that works and how many CC's are safe to have?
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