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
Aol15

0 Contributions
0 People Helped
Will canceling a new credit card hurt your score
I just open up a new credit card account but after thinking about it I want to pay it off and cancel it

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7356 Contributions
3808 People Helped

Pay it off is okay but cancelling will hurt because it removes that card's credit limit from the total.  Just keep it in a safe place, possibly using it occasionally just to keep it active.

Top Contributor
5038 Contributions
1134 People Helped

Very bad idea!! Yes it would hurt your credit and make you look irresponsible under manual review of your credit reports.

Results 1-2 of 2Results 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.