Aug

14

How can i close a credit card without affecting my credit history?

Filed Under Credit History 


I have a secured card as well as another mastercard I didnt activate yet. But I applied for it and agency sactioned it. Whats the way of closing it with out affecting my credit history?

Comments

9 Responses to “How can i close a credit card without affecting my credit history?”

  1. Squadcar on August 15th, 2009 5:35 am

    Mail it back and tell them to cancel it.

  2. bariley on August 18th, 2009 5:36 am

    I don’t know if there is a way. Why not just keep it open? Can’t hurt. Just don’t use it accidentally.

  3. Brenda M on August 20th, 2009 4:50 pm

    can’t. how about you cut it up and don’t use it

  4. Spirit on August 20th, 2009 8:26 pm

    pay it off then tell them to cancel it and ask for confirmation in writing.

  5. Mike on August 21st, 2009 7:40 am

    make sure to note: closed by request of card holder. This shows that it was YOU who closed it and not the card company.

  6. BigRichGuy on August 24th, 2009 5:08 am

    Paying off and closing a card should not affect your credit too negatively. Creditors do like to see that you have available credit, though, so it will affect it a little. They like to know that other companies have trusted you and you haven’t taken advantage of it. The only reasons I can think of to cancel it is if you have to pay an annual fee or if you just can’t control yourself enough not to use it. Aside from that, it might be better to just keep it and don’t use it.

  7. Reaper-racing on August 25th, 2009 9:28 pm

    NO-NO-NO-NO-NO…just cut it up and not use it after the debt is paid……………a credit report will show a cancellation on your report!!!….NOT THAT YOU CANCELLED IT YOURSELF!!!! .( sorry idnt mean to yell just getting the point across)..and will affect your credit score …trust me this has happened to me…cancelling two cards i never used and still fighting this issue that was I that cancelled them

  8. $m¤¤v¥ £¤¢¤ on August 27th, 2009 3:18 pm

    Before I begin, I’ll tell you what makes up your score:

    1. Payment history- 35%
    2. Total debt owed to available credit ratio-30%
    3. Length of time establishing credit-15%
    4. Types of credit established-10%
    5. Inquiries and New accounts-10%

    Well, you have a couple of options that you could try:

    1. Keep the card, make SMALL purchases, and pay it off on time every month to build up history in addtion to the history with your secured card.

    OR

    2. Cancel the unactivated card, but increase the limit on the secured card to match the credit limit of the unactivated card.

  9. Alex on August 30th, 2009 1:32 pm

    Just call the 800 number on the back of the card and tell them you want to cancel it.

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