I have more than 20 credit cards — but I don't need them all. Would canceling a few cause a huge hit to my credit score?

You shorten the length of your credit history and change your credit mix, both of which are also factored into your scoreYou increase your credit utilization ratio because you lose that card's credit line. Utilization ratio is the ratio of credit used versus credit available. Canceling a card removes that portion of credit from your available credit, but since the credit that you’re using doesn’t drop, you end up using more of your available credit. This ratio is the second-most important factor in the cred ...