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Cancelling a Credit Card?
I'm 18 and already have 5 credit cards... One of them being bestbuy through hsbc. However, my credit limit is ridiculously low, my interest rate is redonk, and their customer service is horrible.
My question is, would it hurt my credit at all to cancel a 4 month old credit card that only has a 100 dollar credit limit?
3 Answers
- SlickterpLv 71 decade agoFavorite Answer
If there is no annual fee associated (and there is no, b/c I have one), simply pay it off and stop using it. Cancelling hurts your credit.
- ivan dogLv 61 decade ago
no it wont hurt your credit to cancel that card, and actually could help your credit score by bringing your debt down some
you should try not to have more then 2, or 3 CC's max
anymore then that and it will look like your living off of credit cards, which can give you a worse credit score
- madamsmallLv 61 decade ago
It hurt your credit to apply for it, but at this point it's best to just get rid of it.
