Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
maddellena

0 Contributions
0 People Helped
does cancelling a credit card affect my score
i want to cancel my lower ballance cards will it hurt or help
my score

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-4 of 4Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
1 Person Helped

closing newly applied credit card

Helpful to 1 out of 1 people

I applied credit card yesterday and i find out that they have no longer the promotion of 0% apr. I decided to cancell it today. My question is does this affect my credit score

Top Contributor
2126 Contributions
3200 People Helped

Helpful to 3 out of 3 people

yes it could affect your credit score.   depending on how old the account is you lose that on your average age of accounts.   you will also lose the credit limit so that will affect your utilization.

Credit History takes time so does your Credit Score.

1 Contribution
0 People Helped

Credit Reduction

If you intentionally decide to cancel a credit card for lack of use or excessive charges, even though your cedit utilization % may increase, but you have a 100% record of paying all credit cards monthly, your credit score should not decrease, but should increase since you are be responsible in handling your credit.

2 Contributions
0 People Helped

MAIL SUBSCRIPTION ACCOUNTS

i AGRED TO SUBSCRIBE TO A MAIL SUBSCRIPTION, AND OWE THEM NOTHING. BUT I WOULD LIKE TO CANCEL THEM. DOES THIS EFFECT MY SCORES?

Results 1-4 of 4Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.