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2 questions re crdit cards?

I have 2 questions about credit cards. I am a credit card addict — I can’t stop applying for them, even tough I don’t need them, and pay them off in full and have an almost perfect credit score.

Question 1: Do credit cards ever start lowering your credit limit when you get older, by their assumption that your income drops or that you may drop?

Question 2: What is the best way, and in what order, to get rid of unneeded cards, as far as my credit record is concerned. I think I’ve read that canceling cards looks bad on your accounts.

I’d especially welcome answers from people who are familiar with the credit card business.

Thanks.
sorry about the misspelling — i can’t figure out how to change it

The more credit cards you have, the more credit available you have and creditors like it. However, if you have too much, they also get nervous that you might lose control and spend to the limits on all cards – more than you make.

So, the general rule of thumb is no more than 4 credit cards. But, if you are paying them off each month, it’s not that big of a deal for you.

You can cancel the newest ones first. Hurts a small amount. Keep the oldest ones and just lower their limits.

But you have to be careful to not have too low of a limit across all cards. It’s a delicate balance and it all depends on what your income is.

I’ve never heard of them lowering your limit because of older age and potential of earning less.

They usually raise the limits until you call and ask them to stop.

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