Thursday, September 9, 2010

Does cancelling credit cards hurt your credit scores?

I have a regular visa credit card that I have paid in full. I have heard that cancelling the card will hurt your credit scores...is this true?

Also, I have a store credit card that is also paid in full. If I cancel this one will it hurt my scores as well?

I have been told to just cut the cards up and leave the credit lines open. Could someone please help me with this? Thank you!