Will paying off and cancelling a credit card hurt my credit rating?

My account has never been delinquint.

Will paying off and cancelling a credit card hurt my credit rating?
I would say it might... Why not pay it off, keep it open. As long as you've paid on time, you should have great credit.
Reply:Paying it off will increase your score a little, but don't close it. Closing the account will mess up your debt-to-availability ratio which will bring your score down.
Reply:Yes it will. The best thing to do is to pay your balance off and keep the line of credit open. This shows lenders the availability of credit extended to you even if you don't use it. Credit cards are revolving accounts on your credit report. The less credit you use, the better it is for you.
Reply:YES, it will lower your score. There are many factors used in computing your score, 35% is payment history, if you close the account, the history ends.


Don’t close unused credit cards as a shortterm strategy to raise your FICO® score. Owing the same amount but having


fewer open accounts may lower your FICO® score.





Here is a link to find out more


http://pueblo.gsa.gov/cic_text/money/cre...


All about FICO scoring.
Reply:It'll lower it a little....


Send a few x-tra dollar's every month,and pay it off that way.


Credit Card Co. like long engagement's..They feel,loved and left,if ya leave too soon !!!!
Reply:Not at all, Paying off a credit card will increase your score by a few points .Closing the account might not affect but you must make sure you have at least one card opened under your name. Though you may have an established credit history once you close all your accounts it might be hard for you to get a loan.

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