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How do I cancel a credit card without affecting my credit score?
I have heard this negatively affects your credit score even if it's a card you don't use anymore.

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don't close accounts.

Helpful to 13 out of 14 people

Don't want to use the account anymore. Cut up the card and don't use it.  It will continue to report in your credit report for 7 to 10 years and a positive even if you don't use it. Teh lender may close the account for lack f use in a few years but that isn't counted as a negitive against you. So there is never any good reason to close an account that has a zero balance and doesn't cost anything to help your score.  If there is an annual fee then Close that account but open another one first so you can replace the loss to your Available Credit.   You can never have "to Much" credit. 

in answer to Sandrock20

If it's an account that you did not open, and the account is actually helping your score, Then I'd take advantage of that and open a couple of new lines of credit, Helping your available credit before contesting the bad account and putting a fraud alert on your credit report.  Since it is getting paid regularly it has probably  been reporting to the wrong credit report.  The bad guys usually don't pay the bill. Estimates are that as much as 25% of credit reports are reporting info to the wrong files.

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Helpful to 1 out of 1 people

Sage advice, although all closed accounts will reduce your total available credit limit and increase your utilization.

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you can't

Helpful to 9 out of 10 people

by cancelling any credit card account you automatically (a) decrease the average age of your accounts, and (b) decrease your total of credit limits, thus increasing your percentage credit utilization

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Okay, I have a question on that. What if a credit card was fraduently opened in your name but all the payments are being made?  I know, it sounds crazy, but I seriously have someone who opened a credit card in my name back in 2009 and has been making on time payments. (I wasn't in the states the last few years).  Would it still ding my credit score when I get it shut down?


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(a) Not true at all. The average age of accounts is decreased when a new account is opened, not when an account is closed. When you close a credit card account, your good history with that particular issuer remains on your credit report for up to ten years.

(b) If the utilization is kept low on other cards, then closing one account shouldn't have a detrimental effect on aggregate utilization.

Still, even for a card that's no longer used or needed, it's best to keep it open and periodically make a small charge on it, then pay the balance in full before the due date. But if the card has an annual membership fee, it's up to the user to decide if he/she can justify paying a fee for an unneeded card.

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Close account

Helpful to 1 out of 1 people

It does lower you credit card score. I didn't know about this for a long time. Just found out about it.

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Helpful to 4 out of 8 people

This is 2 answer Sandrock2. Ive had the same thing done but it was my ex that has been paying a Credit Card put in both r names since we were Married and havent been together 4 10yrs. Im going to file bankruptcy soon and shes gonna be cut-off!!

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I have another question. What if you have several secured credit cards and finally qualified for unsecured credit.. Do we just leave the money deposited into those accounts in order not to hurt our score and forget about it? The secured card companies I have already told me they will "never" be turned into unsecured credit cards so what would the best course of action be?

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