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Josh2442

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How much will closing a credit card (in good standing; no balance) affect my score, & for how long?

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Top Contributor
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An exact answer isnt possible.  Factors that matter are utilization and age of credit.  Since the balance is zero, closing it will raise you're utilization unless you have a zero balance on all cards.  Additionally if the card is older than others you have you will reduce the overall age of credit.  The effect will not likely be real high in regards to the age of credit component, but utilization is a big one.  Unless it has an annual fee on it I would leave it open.

Top Contributor
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As already mentioned, it depends on the rest of your credit profile, but in most cases it would be a bad move. I highly recommend that you do some thorough reading on all credit topics before you make any changes to your credit profile. Some hours spent reading are better than years spent regretting that you should have took the time to read on the subject before you took action.

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