Will canceling credit cards lower your score?

Credit card
Credit card

When we posted last week addressing what is a good credit score and how to get one, we got lots of feedback. It seems that a lot of people these days are concerned about their credit scores -- not at all surprising in these times. We also noticed that a lot of you want to take steps to improve your credit (good for you!) but still have some questions. One issue in particular stood out: "I would like to get rid of my cards since I have like 10 of them... The ones I want to get rid of are also some of my oldest accounts," one reader writes. "Would this be a good move?"

It's a good question, and one we suspect many more of you are asking. So we went back to the experts. Here's what Craig Watts, public affairs director for FICO, has to say on the topic.

Originally published