How to Deal with Paid of Credit Cards

Daztrouk

I've heard conflicting advice on how best to deal with paid of credit cards. Assuming i have 4 cards, all of which are paid off, but i intend to keep 1 for emergency use, what is the best way of dealing with the other cards?

I've heard from some that it's best to cancel old credit cards, as they can affect your credit rating. On the other hand, i've also heard from some, that it's best to hold onto paid off credit cards, as they show some type of credit history, due to the length of time they have been in your possession.

To those with more of a clue than i have, what is the best way to deal with a paid of credit card in this situation?

[Deleted User]

Keep a couple and use them regularly. Close the others.