Tilted Forum Project Discussion Community - View Single Post - Does closing a credit card hurt credit rating?

Jimellow · 03-09-2006, 11:29 AM

I've been using a Citi College rewards card for over a year now, and recently applied and was approved for a regular Citi rewards card..

However, I currently have $20+ in earned cash back and am regretting my decision to apply for a better card. If I were to cancel my new card before even using it, would my credit rating be affected negatively?

I pay off balances in full every month, and was intending to switch to the new card, mostly to get the better APR.. But I never carry a balance, so that realistically is not an issue at this point in my life.

03-09-2006, 11:29 AM	#1 (permalink)
Jimellow Junkie	Does closing a credit card hurt credit rating? I've been using a Citi College rewards card for over a year now, and recently applied and was approved for a regular Citi rewards card.. However, I currently have $20+ in earned cash back and am regretting my decision to apply for a better card. If I were to cancel my new card before even using it, would my credit rating be affected negatively? I pay off balances in full every month, and was intending to switch to the new card, mostly to get the better APR.. But I never carry a balance, so that realistically is not an issue at this point in my life. __________________ Desperation is no excuse for lowering one's standards.