canceled a few credit cards...

in the past few days, I've canceled 3 of my credit cards (Standard Chartered & RHB) as I have not been using them all these while, and I see no point in keeping them. rather than risk forgetting to cancel them before the banks charge me with those annual fees, I canceled them first instead.


punched a few holes through the magnetic strips and smart chips on the cards, and send them back to the bank.

Also, it is a known fact that having too many credit cards, be it active or not reduces a person's financial credibility to the banks when it comes to applying loans, typically car loans and house loans. Therefore, canceling a few, and keeping just one or two which one uses all the time would be more than sufficient. I'm going to cancel another few more soon - namely my credit cards from Citibank, Alliance Bank, HSBC and two (Mastercard and Amex) from Maybank and just keep my CIMB and Maybank Visa.