I have 5 credit cards, 3 of them with no balance on them.

I have no use for 2 of these cards at the moment. I was wondering does it look better on my credit history to have 2 cards with zero balance therefore showing I have restraint and haven't maxed out all my cards or does it look like I could run up a lot of debt making it a negative mark against me.

Anyone work in risk assessment for loans or cards that could tell me?

 

Credit card companies favourite customers are the ones with maxed out cards who only pay the minimum require amount each month. They don't like those who pay them off, which is why they introduced all the additional charges.

 

Makes sense I'm guessing it makes no difference but just thought i'd see if anyone knew if it was worth cancelling them.

 

I have heard it looks bad having lots of cards - just like having lots of loans. On the other hand assuming you make at least the minimum payments on them all then it shouldnt affect your credit rating.