An unused card with a high annual fee that you can’t afford is also generally safe to close, as is a newly opened account that you don’t use. Cancelling it will have less of a negative impact on your credit score than closing an older account.

How do I get rid of a credit card I don’t use?

If you don’t use a credit card but are reluctant to close it because of the possible impact on your credit score, you still have choices: Call the issuer and ask to change to a card from the same issuer that is a better fit. You can ask to be downgraded to a card without a fee, for example.

Why is Cancelling a credit card bad?

Closing a credit card can also affect your score because it can lower the average age of accounts on your credit report, especially if it’s an account that’s been open for a long time. The age of your accounts is factored into your credit score, with longer payment histories bolstering your credit score.

How do you cancel a credit card account?

Use the following steps to cancel your credit card the right way. 1. Find the number of the customer service department you need to contact To begin the process of closing the account, gather and write down the customer service number and the mailing address you’ll need.

What to do if you don’t have a credit card number?

When you have a number, call the card company. Let them know you have an account with them, but no longer have the credit card or the credit card number. The customer service representative will ask for some identifying information to look up your account.

How do you stop using a credit card?

Look on the card, on their website, or in past correspondence with them for a phone number or address. If you simply cannot find any contact information, completely stop using the card (cut it up and throw it away). They’ll contact you eventually (right away if you owe them money).

What happens if you cancel an unused credit card?

Secondly, cancelling unused credit cards could open up a range of “new credit card customer offers” as the old credit cards may be preventing you from taking advantage of these.