Term: Revolving Utilization
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I Have Too Many Credit Cards. What Do I Do?

By Steven Shaw on 8/13/2013

too many unused credit cards

We recently received a question from a reader who wants to know if there’s any way she can close unused credit cards without hurting her credit scores and how taking this action could impact her credit overall:

I have at least ten credit cards and I only use two of them — Amazon and a Discover card that I only use when I shop Costco. I really want to close the other accounts since I have so many, but I keep hearing how it can hurt your credit. I do not have a balance on any of the cards including the Amazon card. Is there anything else I can do? 

Revolving Utilization
Credit Card
Credit Card Utilization