I'm 26-years-old and have a whopping nine credit cards to my name. A number of them I rarely (if ever) use, and I'd like to get rid of them. These are the ones that impart zero rewards/rebates, have no annual fee (in fact the only annual fee is with the National Bank MC), but take my credit history back the farthest, as these are the ones the banks give you when you are a poor undergraduate university student.
Here's the list:
1) Generic CIBC Visa (opened 2004)
2) Generic BMO MC (formerly an Airmiles MC, opened 2004)
3) HBC Credit Card (opened 2004)
4) Sears Credit Card (opened 2005)
5) TD Green Visa (opened 2005)
6) National Bank (MD Management) Platinum MC (129$/yr, opened 2007)
7) MBNA Smart Cash MC (opened 2010)
8) Costco Amex (opened 2011)
9) Amazon.ca Chase Visa (opened 2012)
I'd really like to get rid of numbers 1 through 4. Not that they're costing me anything in terms of an annual fee, but I really don't use them and they're a nuisance to keep track of. But since they're my oldest cards would I really be hurting my credit history if I cancelled them? Any benefit in doing it over a drawn out time period rather than all at once?