Please let me know if that would affect my credit score and how?

I want to surrender all my credit cards due to some personal reasons. Please let me know if that would affect my credit score and how?

2 Answers

If these are old credit cards, then your score will get hurt. The credit utlilization ratio would increase and your score will drop,


As far as I know, surrender of credit cards may have some negative impact on your credit score. However, it is also a fact that unused credit cards will not drastically impact your credit score if you have been regularly paying all your other accounts, along with these credit cards in the past.


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