I have recently paid off my credit cards and would like to close most of them. I have six cards total, three of which are no-brainers to close. The newest card (less then one month old) has quite a few nice perks through my credit union and will be staying open.
That leaves two cards to choose between:
One card, which I currently pay my utilities with and pay off every month, has a 2% cash back bonus, no annual fees and has been open for eight months.
The other card I do not use, has been open for five years and has roughly $75 in annual fees.
I read here that the age of accounts makes up about 15% of your score.
What is the best course of action in this scenario to increase my credit score? I'm currently around 640, but have been steadily increasing for a couple of years now if that makes a difference.