Credit card applications

[RetireJapan]

Is it bad to cancel a card?

I had a JAL Card and a Rakuten Card but now that I got an ANA Superflyers Card and decided I don't need the Rakuten Card (fuck their spam).

I read in many American forums that cancelling a card is supposed to be bad for credit score. Why? Does that apply here?

I'm not sure on the details, but I think the following apply:

1. having cards for a long time helps your credit score. If you cancel an old card, the average age of your cards goes down.
2. having lots of credit that you are not using is seen positively. If you cancel a card, your total available credit goes down, and your % of credit used may go up.

I still have my first credit card (a fee-free Saison one) mainly because of 1) above. I don't use it though

[DragonAsh]

Man, don't get me started on credit cards in Japan. I applied for one just to have one in Japan - we don't really use credit cards all that much (and certainly never keep a balance) but they can be convenient at times. And the bank that I had used when purchasing my house - in cash - turned my application down. Sure, I had only just gotten back to Japan, but the bank account itself was 10 years old and had been set up by my company....which was the bank itself! (I was a Tokyo head-office employee on assignment in London).

I was pretty peeved, to say the least...