If you call the creditors and request to close your credit card account, does that affect your credit?

Question

Account is paid in full but I request my creditors to close the account, does that affect your credit or should I leave it open and never use it?

Answer 1

All right. Here's the real answer.
You can either keep it or close it, it's up to you.
If you have had this credit card for a long time, closing it could hurt your score. A large percentage of your score is figured by the length of your credit history.
But at the same time, if you keep this account open and you don't use it, it's not going to help your score any in the long run. Your score will only continue to climb if you actually USE your available credit.
My advice would be to keep it open if you've had the card for a while (like 5+ years). Use it every now and then; buy something small and pay it off in full the next month.
I hope that helps!

Answer 2

If you are closing a card just to keep from using it, bad idea to close it!! Why? because it does affect your overall score. The longer you have your cards the better, and instead of closing them, just cut up the card and keep the account open. Credit scoring agencies like to see that you have availability to cash/credit, it shows you can access more money/have credit from an outside source than if you didn't have the card. Just don't use the account; this looks good on your credit rating.

Answer 3

In order to have a good credit rating, you need to have some sort of credit.

If you already have several more accounts, then go ahead and close the account. If, however, you don't have much else in the way of credit, keep the card, charge on it occasionally, and pay it off every time you make a charge.

Answer 4

It somewhat relies upon on many factors -- oftentimes how previous is the account you propose to close? last an older account and establishing a sparkling account will the two reason the typical age of your bills to flow down. in case you shut a 10 year previous account and don't produce different enjoying cards any the place close to that previous, it may make a miles better dent on your score than last a card it somewhat is in simple terms a pair years previous. Why are you getting a sparkling account with American convey? have you ever attempted asking them to transform your contemporary accout to despite particular words the hot account has?

Answer 5

It can affect your credit, either way. You need to decide what is best for you.

If you keep it but don't use it, it still counts against you because you have the ability to use it.

If you close it then it can look bad, not all creditors will report the reason the account is closed.

Good luck with your decision.

Answer 6

Does not adversely affect your credit unless you dont pay them off. Actually havning too may open credit accounts can hurt you. If you arent using an account, close it.