I recently secured a personal loan from my credit union in order to pay off all of my debts. I am now without debt, and trying to save to buy a house. I have three credit cards with a zero balance, and only a few late payments on my reports. My question is: Is cancelling two of my credit cards, and only having one, a good idea or a bad idea?
I would leave them all open, unless for some reason you needed to close some to get into house (like for too much open credit reasons), which is unlikely since you only have three unless the CLs are ridiculously huge. I don't think closing any would make much difference.
