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Question By
Hoopitz

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Will canceling a charge card hurt my credit?
There are a lot of threads on here regarding canceling a credit card, and how it affects your credit score, but what about a charge card?

I have an AMEX charge card, which I never use. It has a yearly fee of $95.00, so I feel like it's a waste to keep it open. Additionally, since it's a charge card, it doesn't have a specified credit limit, so would it hurt my score at all to just cancel it? It's been open since 2013.

Thank for the help!

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Top Contributor
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Canceling cards

It is the same as canceling a credit card.  An American Express is a revolving credit account as far as the score model is concerned.  As such, it will impact your credit just as it would to cancel any other card of that age.  Hope that helps.

Joe

Reply by
Hoopitz

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Thanks for the response, IMCUSA.

Another thing to note is that in my Credit Karma account, it says that one of my cards doesn't show a credit limit (the AMEX) and that may hurt my score. Now i'm REALLY confused ...

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