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i have heard that canceling a credit card negatively impacts your credit score/history. is this true? is there a way out to reduce the number of unused cards i own?
 

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i have heard that canceling a credit card negatively impacts your credit score/history. is this true?
Yes. 15% ( I think?) percent of your score is based on the length of time that you have open accounts.

rookie said:
is there a way out to reduce the number of unused cards i own?
Keep the cards, lower the limits to the lowest possible amounts, like $500. Use the card like once or twice per year just so it sends a hit. If your cards have an annual fee, ask to convert or downgrade it to another card with no annual fee. With this route, you will keep the accounts open and have lower available credit. (Which is good when applying for a mortgage)
 
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