Will closing Amex hurt credit?
Will closing Amex hurt credit? Closing a credit card won't immediately affect your length of credit history (worth 15% of your FICO Score) by lowering your average credit age. Even after you close a positive account, it may remain on your credit for up to 10 years. But after that, it could decrease your score.
Is it better to cancel unused credit cards or keep them?
In most situations, it's better to keep unused credit card accounts open, as closing credit accounts can have a negative impact on your credit score.