![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-174344-100x100.png\")
freeze it in a block of ice or lock it in your fireproof safe. You may need it some day
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-25155-100x100.png\")
@DeanOfAllTrades: You need to use them periodically. Small purchases that you pay of monthly. Otherwise, the account may be closed due to inactivity.
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-332708-100x100.png\")
@FrankenPC: Yes. Sears recently canceled my Mom's very long-standing account for inactivity. I was piggy-backing too, so I'm miffed!
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-495463-100x100.png\")
what i hate, and maybe someone can answer me along with this is that I got a card and canceled it right away. But it shows up on my credit report and says that it will be listed there for the next 10 years... any way to get that off?
![\"user-pic\"](\"/css/images/default.gif\")
@lodleader: You opened it, you closed it. Not coming off.
But the good news is, it most likely will have no effect on your credit score or any future credit decisions.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-68654-100x100.png\")
@lodleader: no, there's usually no way to get that off, but as long as it states \"closed by consumer\" & shows paid in full, it shouldn't have a long-term negative effect on your score.
incidentally, i think it's only supposed to report for 7 years (unless it's part of a bankruptcy).
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-439678-100x100.png\")
@lodleader: Bigger question is will it hurt you to have that cancellation on there.
If the only two criterion are the ones listed in this article, you don't have anything to worry about with this cancellation being on there since it didn't shorten your history and it didn't lower your available credit (aside from when it was briefly opened).
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-109901-100x100.png\")
Cancelling a card _can_ hurt your score, but it's important to remember that your score isn't everything that a potential lender will look at when determining what sort of loan you'll get. They'll look at how much available credit you have, as well, so if you have $5,000 in available credit unused on some card that you never wanted in the first place, they may suggest you dip into that credit card rather than add more of a credit line to, say, a mortgage.
The amount that your credit score is hurt by cancelling a card is pretty insignificant. If it is an old card that you've had for a long time, don't cancel it, but something like this -- new card that you didn't want -- it doesn't hurt. I got a store credit line to purchase a new guitar last year, 0% APR for a year, paid off the guitar in about ~8 months and now I'm cancelling the card. Mostly because I have no interest in carrying a card that has a 23% APR (0% for a year, then it skies to 23% which is absurd)
isn't it true that having too much available credit can hurt your credit score?
@snowburnt: It depends on the type of credit that you have available. If you have too many \"revolving\" accounts (credit cards, open-ended lines of credit, etc.) open, then it can adversely affect your score. Even if you carry a \"zero\" balance on these revolving accounts, the fact that you could potentially rack up thousands of dollars in debt literally overnight is what hurts your score. Just as \"mac-phisto\" points out, you pose a higher risk because of this, and after all, that's what the FICO score is designed to measure.
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-525207-100x100.png\")
That's not going to hurt your score. If you apply for a credit card and, upon manual review, it's noted that you already have credit lines totalling, say, 5x your annual salary, then that could potentially hurt your chances of getting approved for the credit card. But that won't be because of your score, it'll be because they already think you have more than enough credit for your income.
No point minimizing the amount of credit you have access to for fear of not being able to get access to more credit!
@SchuylerGalump:
That is absolutely wrong. Having lots of opened and unused credit will NOT hurt your score, it will actually help it. It may look bad to certain lenders, but any underwriter worth their salt would look and see how responsible you were with all of that credit and make a decision based on that. If you have had a credit card with a $50,000 limit, but your high balance is only 5,000 that means that you are responsible. But having all of the open credit will not hurt your actual score, that is an old myth.
@snowburnt: i don't think it hurts your score, but some lenders may refuse to extend credit to you b/c you pose a higher risk of default due to the higher availability of credit.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-793925-100x100.png\")
So would it make sense to keep cards, make a few small easy to pay the full balance of purchases to keep them active than to get rid of them?
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-132151-100x100.png\")
How can people know so little about something that affects so much of their financial life?
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-172611-100x100.png\")
@TinkishDelight: Because the credit industry is transparent and easy for everyone to understand, right?
@xay: No I get that, but whether or not your score drops if you close a card? That's like Credit Scores 101. Not even. That is like the preliminary class that most kids already test above.
Like I said it's one thing if you're 18-24 and just starting out, it's quite another if you've been utilizing credit long enough to have an \"excellent\" credit rating. And you're a Consumerist reader!
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-15631-100x100.png\")
Considering that the FICO scoring algorithm is proprietary and secret, how could this possibly be part of Credit Scores 101? Anyone outside of Fair Isaac citing criteria for a good score is likely full of crap, and anyone from within FI citing it is breaking the law by divulging it.
It's only fair to say that it is *speculated* that keeping accounts open would help/hinder, based upon someones experience and keen analysis. That falls pretty far from basic knowledge.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-2944-100x100.png\")
@TinkishDelight officially OVER the dc tourist infestation: You realize that people aren't born with this information and have to obtain it somehow - such as by asking questions - right?
@rdm: The man claimed to have excellent score meaning that's he's likely already applied for a loan/credit card or two. If you're in the game, it's your responsibility to learn how to play it. He also claimed to be a Consumerist reader. There's a whole tab of credit information.
It does affect your credit score if you carry balances. Basically, if you cancel a card, your percentage of credit used goes up. This appears to the model that you are stretching yourself.
However, if you never carry a balance, it should not effect your score much/any, as long as you have other accounts. (If you cancel all your credit cards, your score most certainly will go down, because you now have much less contributing to your credit history.)
At one point, I ordered an American Express card (Blue), but when it came in, I never activated it. A year later, I got a letter saying they were canceling my account. I assume this impacted my score a good amount, but does anyone know more? Does it count as a credit card, even though I did not activate it?
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-552364-100x100.png\")
@Robert Jason Cervantes: I'm guessing it counts. They gave you credit when they accepted your application... you just never used it.
However, based on what other posters have said above Re: available credit, etc. it probably didn't hurt you that much.
@Robert Jason Cervantes: I have had a similar situation. Received a Discover card and activated it about a year later, but still have never used it. Wonder if canceling it now would be a bad idea.
It could hurt your score.
Sirwired explained the available credit factor welll. If your % utilization for available credit goes up then your credit score will down. Basically if you lower your overall credit avaialble then your outstanding debt on those credit cards will consume more of your total available credit. Your credit score will reflect that.
The other factors are Oldest Credit Line and Average Age of Credit Line. Removing your oldest card will hurt your credit score based on these factors.
The battle for good credit takes time, patience, and diligence. These are things happen to make you a worthy borrower as well as raise your credit score.
www.creditinfocenter.com
I hate discover card... I *thought* I canceled my account years ago, only to keep receiving mail from them. I called to see what was going on, and they never canceled my card. then I had to go through 30 minutes of a kid trying to convince me to keep the card open before it was finally canceled. I haven't received anything from them since, and my credit reports show the card as canceled. Never again.
If only I had known about Consumerist then... though I don't think it was around during this episode. *sigh*
How soon would be considered too soon when you cancel a newly acquired credit card? (I got a Toys R Us card last year and only used it one time.)
I don't understand why anyone Phil McGraw can solve anything. I saw a magazine at the grocery store check out the other day that said something about him having marriage problems. Who would go to someone for counseling who can't keep his own marriage in good shape??? That would be like hiring someone to fix your car who owns three cars, none of which work.
@chris_d: There's an adage in web design: always hire the designer with the worst site. Why? Because they're so busy helping their clients with their sites, they never have time to fix their own.
Not that I'm defending Dr. Phil or anything...
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-55165-100x100.png\")
Discover has a marketing gimmick, or at least that's what I think it is, that drives me batty. If you haven't used your Discover Card in six months or so, they'll send a new card well in advance of the expiration date of the account. It's like they think if they send me a new physical card, I'll run out to use it. And if you don't bother to activate the card that arrives, look for another one to arrive in the mail within six months. This practice strikes me as wasteful, stupid and likely to lead people like the subject of the post to call and cancel the account in order to stop the mail deluge.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-114395-100x100.png\")
Here's my quandry. I have a low limit ($800) card that carries a $50 annual fee. I got it after some credit problems that are now resolved. I have other cards (one $2500 and one $5000) and I never carry balances. I hate that I have a card with an annual fee. The 'credit life' of this card is about 10 months older than my next oldest card. Question for all - should I cancel it to ditch the fee? I'm not looking to buy a house or do anything else soon, so if it's a small hit on my score I'd be fine with that. Basically it comes down to whether or not the FICO hit is worth getting rid of the fee, which I think it is.
@Matt: another possibility: if this is with a major bank, consider having them review your account for a different product that doesn't carry an annual fee - you might end up with the best of both worlds.
or just cancel it - def. not worth $50/yr.
Excellent advice.
@mac-phisto: Thanks for assuring me my decision was right. I told them when I called to cancel it that my specific reason for canceling was the annual fee. They told me they could knock $10 off of it, but that it had to stay on. Bye bye crappy card!
@Matt:
Definitely the right move! That sounds like just the kind of crappy sub-primey card (no offence, I promise!)that might serve its purpose if you're trying to build up your credit, but the very second you can get anything better (and you already have several somethings better, clearly), you $$$$-sucking piece of junk goes bye-bye before they can make a cent more off of you than necessary.
Well done!
@MsAnthropy: Yeah it was subprimey (Orchard Bank, where everything subprimey lives) but it served it's purpose. I only paid one annual fee and that was that.
@Matt: Cancel it. If there's a hit on your credit score, chances are it'll hurt less than the annual fee. And if the next card is only 10 months younger, it's not going to do much harm.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-118641-100x100.png\")
@Matt: I think with such a low limit compared to your other accounts that it would not generate much of a hit.
re \"David\": why the urgency to cancel a card and the angst over doing so? Cut the thing up, but keep the account open. I also have a Discover account, only used for a 0% float, and I paid that off before the rate reset. They send me new cards every six months or so, and I just cut them up. If they want to close the account for non-use, no skin off my ass. I don't obsess over my score much.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-248759-100x100.png\")
I think a lot of credit card issuers use this phrase as a scare tactic. Yes, closing a credit card can impact your score. So can applying for a new card. Closing a card should not \"tank\" your credit score. You should take whatever action you feel will bring you to a greater level of financial health.
About 6 years ago I got a consolidation loan, and closed all my credit cards except for 2 department store charge cards. I then proceeded to make all my payments, and was late due to forgetfulness twice in about 4 years. At that point, I refinanced the consolidation loan and my credit score was \"so high\" my credit union gave me their very best rate. Last year, I applied for a Platinum card and was immediately approved.
Managing your money, making payments on time, getting rid of high interest rate cards, keeping a low-credit line card active... that gets you a good score. There will be ups and downs but that's just a part of the process.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-110373-100x100.png\")
I have a couple cards that I paid off but one charges a monthly fee (it's a really bad card) and one charges a yearly fee. I'm thinking I should cancel these and not even look back. Any advice?
![\"user-pic\"](\"/mt-static/support/assets_c/userpics/userpic-34412-100x100.png\")
I had two cards with Chase. They sent me a letter saying they noticed I used one more than the other. So they raised the credit limit on my active card. And then a month later, I got another letter saying they closed by inactive account because I wasn't using it.
So in the end, my available credit was way up. And then after the inactive card was closed, my available credit went back to the same before all this started. So nothing really changed.
@LatherRinseRepeat: I was not aware that they could just close one of your accounts without your request or permission? I have two Chase cards also and almost never use one of them.
@joe18521:
I just got a letter last week from a bank whose visa card I haven't used in over a year but had a zero balance - they were closing it out. They'd rather I had a $10,000 balance I was making minimum payments on I guess.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-350811-100x100.png\")
I've cancelled cards before with minimal impact if any on my credit score. I say it depends on the rest of your credit picture. If you have a rich history and a good credit limit available on the remaining card(s) you will be ok. I've been down to just a single credit card several times in my life with an available limit of 5-10k and still retained an excellent fico score but I had an excellent track record on the closed cards and on a current auto loan to support that score.
I dont care what the interest is on my credit cards because I use them responsibly and pay off the full balance every month. They could be at 50% and it will never affect my payment.Credit cards are not interest free loans, they are simply a convenient and secure way of shopping online and in stores without carrying filthy cash in your pocket. I actually make money with my credit cards that have cash back/incentives, to the tune of an equivalent 30k MMA account, and that's not small change. That said, never cancel a card unless there is a fee attached, just charge a small amount on it every few months and pay it in full and watch your Fico score rise. It does not matter if you have 5 cards or 50, part of your Fico score (like 30%) is based on your credit to debit ratio. Say I have amassed overall 50k in credit, I would never charge more than 5% of that amount in one month because that affects my ratio. So, buy that bigscreen TV on credit, but make sure you have that amount in your checking account to pay it off within a month. OR as Suze says \"you can not afford it\".Sorry I ranted a little off-topic but it is my number one peeve with society at large.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-81313-100x100.png\")
I think there might be a small mistake in thinking here. Credit scores do base themselves upon the length of time you've had credit. But canceling a card does not remove that history from your report. It remains for seven years - ten if it is all positive says my credit bureau rep.
You would be lowering your credit to debt ratio, assuming you are carrying debt. But the reduction to score because of loss of history doesn't make any sense. The history will remain and the card will show canceled by consumer. There'd be a maybe five point hit assuming its not a large amount of available credit that totally whacks out the debt to available credit ratio IMHO.
its pretty simple.
1. if you haven't got cash - you can't afford the baubles and trinkets. Exercise a thing called 'self discipline.'
2. credit is 'debt.'
3. only people failing at the business of 'making a living' are concerned with whether or not something affects your ability to incur debt.
4. if you're having to use a credit card to buy things because you presently don't have actual currency ('cash') - then you're living beyond your means - regardless of whether its just until the next payday, or longer.
5. see #1.
... and also, would you say that only the people \"failing at the business of making a living\" would be concerned at what kind of mortgage rate they'd qualify for? Or should they save up cash for 40-something years (paying rent all the while) if they want to buy a house?
Let me guess, you're a big follower of Dave Ramsey and his black-and-white views about all things credit-related, aren't you?
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-603961-100x100.png\")
@MrFrankenstein: Um not exactly. Some people like myself who can avoid to pay for things using cash, use their cc's, 1) to develop positive credit history 2) to cash in on credit card rewards programs that offer cash back on purchases other perks. If you are using your cc's as a means of paying your bills every month, then yes you have failed at the game of life, but I see nothing wrong with some people using their cc's for fun purchases even if they have the cash available. Also, if making a large purchase, I wouldn't recommend paying in cash as credit cards do offer chargeback protection if needed, something you can't get from a debit card.
\"Credit is debt\", is it? Not in my case. Well, unless you count my mortgage, that is. Some people just can't quite seem to fathom that credit and debt are not one and the same thing.
As said above, you would be alterting your credit to debt ratio by closing that credit line and COULD effect your FICO score, a little.
Sounds more like Discover Card is looking cardholders left and right and is taking some creative methods to try and get them to not close their accounts. I have never seen a credit card company concerned about someone's FICO score when they ask to close an account.
That said, I wouldn't be alarmed. This account was new so it doesn't really impact the part of your score based on how long your account has been open and paid on time.
I have seen people have creat concern about \"hard credit report pulls\", \"soft credit report pulls\" and things like this when it comes to their credit score. I think it's much stress about nothing.
I have taken advantage of credit card offers for bonuses and then closed the accounts, I have had my credit report pulled when I am thinking of buying a hard or refinancing my home, etc. My credit score has always remained between 775 - 790. I think people stress too much about this stuff.
You won't wreck your FICO if you cancel a card, even your most long-standing card. You will wreck your FICO if you default on something, or if you foreclose on your house.
Don't live in fear of credit bureaus. (Don't live outside your means if you can help it, i.e you aren't forced to because you're ill, either.)
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-326654-100x100.png\")
2) Your credit history may be shortened. Length of credit history is part of your score. The older, the better.
No, your credit history can never be shortened. Your average account age may be shortened, lowering your score.
There's no way to get \"rid\" of credit history, folks.
1) Canceling a card may hurt the average age of your account, HOWEVER positive accounts remain on your credit report for up to 10 years, closed or not. So you won't feel the Fico hurt for canceling a card for probably 10 years after you cancel it.
2) No, you Fico does not go down for having too much available credit. Horrible myth.
3) The available limit being taken away from a closed card may hurt if you have balances reporting. Don't carry balances and your utilization will not be hurting your score.
Simple.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-21984-100x100.png\")
No you should not worry about this in relation to credit score for buying items. Maybe worry a little about it for future stuff like car insurance, etc. You may have to proove to the insurance droids that you have open older credit lines.
Credit Geeks who use app-a-rama and other techniques to bust out credit cards to use the Zero% advance money in high yield interest accounts may care but it really doesn't affect the average user. As others have said it is the defaults, late payments, etc that really hammer your credit score...
So what about a credit card that carries an annual fee? I don't use the card, but it has a fee of $50 a year. It's the oldest (7 years) and only card I own. What should I do?
If the benefits of having the card (rewards, perks, etc) are worth paying the $50 for, then keep it.
But why would you pay $50/year for a piece of plastic that just smells your socks in the sock drawer?
Annual fee cards should be canceled, unless you get perks that you use and use beyond the value of the annual fee.
Does it help your score if you keep a balance, or if you pay it off every month?
People need to get over their obsession with their credit score. Yeah I get it, you MUST have good credit, right? I dunno, I'm beginning to think the whole credit score stuff is somewhat of a scam. You can still buy pretty much everything without good credit. You just need to save up, put down a deposit, or take a higher interest rate.
Personally, I think that for most people, the detriments of good credit outweigh the benefits. So now you have a bunch of credit card debt, a huge car payment, a house you really cannot afford? That's the reality for most people who worked on building their credit. And, yes, I get it - you need credit cards for an emergency, blah, blah, blah. Okay, fine, that's one benefit I see. But, otherwise, I think this notion that we MUST build credit has really gotten most people into more trouble than its worth.
PS - Before people start bagging me, I have really good credit.
I don't think it's necessary to become \"obsessed\" with one's credit score. But (ESPECIALLY right now), I don't think it's a bad idea at all to at least have a basic understanding of how credit scoring works and what kind of shape one's credit is in. That way you get to avoid all the nastier practices of the credit card companies and other lenders who are panicking and just looking around for the next person to stick it to in an attempt to scare up some cash.
@MsAnthropy: @MsAnthropy:
BUT you could be asked to close down cards by a mortgage company if they feel that the additional cards are too much risk. Credit unions, especially, like to do this. I have a ridiculous amount of credit from a past App-O-Rama (the vast majority unused as balance transfer deals and interest rates have shriveled), and still maintain an above average credit score. But I've been told that I must close a few credit cards just to get that potential debt off the books for a mortgage. (Of course, it doesn't stop me from reactivating that credit in the future.) Back in the days when they were auto-approving people based on FICO this wasn't the case.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-98105-100x100.png\")
My credit report shows a Discover account as closed that I closed in 1986 (six months after I got it...).
What about if it's an Amex green card? I barely use it as a charge card anymore. Can I cancel it without it affecting my score? There is no spending limit on it.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-95687-100x100.png\")
I'm personally not worried about my FICO score, in fact my credit union weighs my financial history with them alot more heavily than they do a credit report.
Also, while alot of insurance companies base your rates on your credit history, your credit history generally only affects what you pay for COMPREHENSIVE insurance, not liability only. And really you don't necessarily need comprehensive and collision on your vehicles if you're a good driver with a car that's paid off. Any hail dimples or cracked windshields can EASILY be paid for out of a car repair emergency fund. Uninsured motorist coverage is REDICULOUSLY inexpensive ($20/6mo is what my dad and I pay on four vehicles) so you're covered if some illegal immigrant or uninsured SOB hits you. If you wipe out and total your paid off car your emergency fund should be large enough to get you a beater to get you to work and back, used police cars don't fetch much over 2 grand at auction and most lots that resell the cars don't go much over 3grand unless the car is in immaculate condition.
Finally, if you have the kinda money where you can drive a car daily that makes comprehensive and collision actually worth the price, FICO score is probably the least of your concerns.
@MrEvil:
I could not agree with you more on that last sentence. People really need to stop buying into the lie that they must have a brand new, super nice car. You don't, okay?
No wonder we are now called \"consumers.\" Not people. Not individuals. Not human beings. Nope. We're just CONSUMERS. Apparently, a lot of people have really bought into the notion that their self-worth lies in what they chose to consume.
It really is down-right pathetic.
I don't get it. I just got a $500 credit increase on my own Discover card, taking it to $2500. This is the one year anniversary for being a cardholder and I maintain a zero balance on it, no carryovers.
I wonder why all you other folks are having issues with them.
Close the card. Discover are a bunch of idiots. I spent nearly an hour with them yelling and screaming to make them close my card. They refused, refused, refused! You just have to sit there and repeat, \"Please close my account\", over and over and over again.
Keeping the account open can also hurt your credit. If you have too much available credit, that can also look bad. If you don't want the card, close it. Unless you're maxed out on all of your other cards it won't hurt your score.
@jimconsumer: Strange. They just tried to close my card, but I was able to talk them out of it. Discover does suck, since they try to sell things to you whenever you renew
Discover card representatives seemed to be trained to upsell aggresively. When speaking to a Discover card rep, cancelling a card I had not used in years, I heard up sells like, \"the experts recommend you have at least X cards\" and \"cancelling cards can wreck your score\".
While cancelling my card, I told the rep that if you try an upsell me again I insist on talking to a supervisor. He stepped right into my trap, as his eyes could not be lifted from his script.
The supervisor was empathetic, but I doubt he really cared about my complaint.
Sucks in this way, Discover does.
I love my Discover More card, and am very happy with Discover EXCEPT for this one thing. That desperate way they'll try to bullshit you into buying something you have no interest in or need for, every bloody time you have occasion to speak to them (and will call you to try to sell you things unless you tell them very, very firmly that they are not welcome to do so), and the embarrassingly ill-informed willingness to tell you ANYTHING if they think it might get them a sale leaves a nasty taste in my mouth. I do feel sorry for anyone who's forced to try the hard sell like that as part of their job, and attempt to be patient, but it's still annoying, and pretty tacky from a companny with otherwise outstanding customer service.
My \"favorite\" bit of unasked-for attempts to sell me crap was the time I called to activate a new card on my account and the call was answered by some woman who obviously thought she was talking to someone she'd just had on hold. She barked at me that my account was over the limit (uhh... no, it has a zero balance, sorry!), and when I pointed out the case of mistaken identity, she blurted out (with extreme insincerity) \"OH! Well I am SO glad you called, because I really wanted to tell you about our new credit monitoring service!!!\" and proceeded to drivel on about said service without so much as asking what I was actually calling about.
When they're not trying to sell you something, though, they're awesome.
Reader David, Discover Card would like the opportunity to further clarify the information our customer service representative shared with you. Closing a line of credit may affect your credit score, since the issuing company is required to report the termination to the credit bureaus. The credit bureaus can determine what types of activity affect a credit score. To learn more about how to maintain your credit score, please visit [www.creditreport.com] or
[www.discoverfinancial.com]
Four months later and Discover is still using the same scare tactics. Tonight I had a Custmer \"Care\" specialist inform me that I would be hurting my credit score and that Discover would be informing the credit bureau of my decision to cancel my card that I haven't used in over 6 years. After telling him that I didn't care and I still wanted to close it, this kid informed me that I might also now find it more difficult to obtain employment. Umm...hey Discover, are you threatening me?! Should we take this outside??? And to you, Mr. Customer Care Specialist from Arizona who answered the phone tonight at 9:42 PM EST, I think I'll take my chances without your stupid card.
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-15106-100x100.png\")
![\"user-pic\"](\"http://consumerist.com/assets_c/userpics/userpic-207431-100x100.png\")
It can hurt but not much and not for very long. But I would just keep it and tuck it away somewhere. Having an old and active account helps your score.
@EBounding: Unless your debit card is cloned, and through your bank's ATM they have access to a credit card that you have not used in ages. Nasty surprise.