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dara1981

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Closing a secured card.
Hello.

I have 6 Credit Cards. I have my first card, which is 14 months old. I have my 3rd oldest card that is a secured card and it is 10 months old. I have kept it in good standing, with a $0.00 balance at present. I do not like the card, because the only way to pay it is to mail a money order.

My question is, would it have a huge impact on my credit score if I closed this card?

Kind Regards.

Dara

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It will hurt your credit because it removes that credit limit from the total. Instead of closing it, lock it up in a safe place and let it expire on its own.  That doesn't hurt as much as when you close it..

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