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Question By
Freddy816

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Can I cancel a new credit card or should I just keep it?
My CS is 660 and I don't have any other credit cards, just student loans. I applied for care credit recently for a pet emergency and was approved for $500. I don't need it anymore and would rather not have it. I would like to apply for a regular credit card. Will it hurt my chances of approval to cancel the care credit or would I be better off just keeping it at this point? Thanks!

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P.s.

P.S. I should have mentioned that I never used the care credit. Thanks!

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Reply by
Fedupwithdebt

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It is difficult to give you a definite answer because everyone's credit profile is different. If you have a lot of revolving credit, with a long history, then closing this recent account with a low limit, probably won't hurt. If you don't have a lot of revolving credit, and/or a short history, then I would recommend keeping the Care Credit account open (I suspect this may be your situation, based on the credit limit of $500).

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I advise taking the time tolearn how credit works because you don't know that, based on your question, which has been answered numerous times before.  The more available credit you have, the better your score.  And, student loans are one of the things you wasnt to work on getting paid off as soon as possible since they remain collectable for life.

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Reply by
Fedupwithdebt

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What are you talking about student loans for? The OP never mentioned anything about student loans!!!! All you ever do is post for people to read the articles on here. You never offer any real advice.

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