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Lancalot50

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Closing an account
I have an unused line of credit. How bad will it hurt my scores if I close it?

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It will hurt!!

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Even if you don't use this line of credit, you have been found trustworthy so were approved for it.  If you close it, it would almost be like a slap in the face to those who gave it to you and it will drop your available credit by whatever the credit line amount is, thus reducing the credit score.  Hang on to it in case the need for it ever arises.  Then you'll be very glad you have it!

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