New Delhi, Oct. 9 -- When you cancel a credit card, it has a notable impact on your credit score. Such a decision reduces your credit history, which is a key factor utilised by credit bureaus in calculating your credit score.

To put it simply, it is better for credit card holders to continue holding their credit cards for decades together, even more so if their respective credit card issuing companies do not charge any annual fees.

That is why one should carefully consider closing a credit card, as it has both pros and cons. What matters in the end is the comfort an individual feels holding credit cards for the long run and the way the overall credit card bill repayment is managed.

For example, if you have two credit cards with credit ...