View Single Post
  #2  
Old 06-12-2008, 06:33 PM
trent trent is offline
Senior Member
 
Join Date: Jun 2008
Posts: 387
Default

This will depend on many things. For example if this was your first credit and you had the credit card for several years, then if you close it you will shorten your credit history significantly, which is bad for your credit score. Another thing that affects your credit score is the debt-to-credit ratio. If you close the card (assuming it's paid off) then your total available credit becomes less, which automatically increases your debt-to-credit ratio, and this might hurt your credit score.
__________________
No debt
Reply With Quote