Credit Card, how to use credit card, how to cancel credit card
Simple Answer is……. Yes. !! But not Over Impact.

Cancelling credit card will Hurt Your Credit Score

When you are using a credit card for long time and you can see that your credit score is increasing since you started your credit card. When you decided to Cancel your credit card, It will cause little bit impact on your credit score.

Lets see How does Credit Score Got Affected by Cancelling Your Credit Card

Many people thinks that cancelling credit card will not affect the credit score, But credit card cancellation without maintaining proper norms can lead to sharp downfall of your credit score. 


In other cases you may not use your oldest credit card any longer, But before you close the credit card it’s important to understand whether closing your oldest credit card, or any credit card at all, is a good idea. 


Should i cancel unused credit cards or keep them?

Keep your unused credit card, Credit experts say.

Holding the credit card will help you to keep average age of accounts high. Over time, you could qualify for a credit limit increase and help to increase your credit utilization. Which can helps to increase your credit score.

Keep the credit cards even if they are being used, This will keep the number of open accounts and amount of available credit up for a cardholder. 

Freeze your credit card instead of cancelling it.

If you feel you need the credit card and think it is no longer usage, then you can freeze your credit card. if you cancel the credit card you will loose a money source for a time. in case if you want to activate the card again you have to wait for few days. 

But if you freeze the card then you can unfreeze it whenever you wanted it. The card will remain yours while in freeze so no need to wait if you need in a critical situation.

Every banks providing the credit card freezing option in their website or application. you can go through the same and freeze / unfreeze instantly. 




Still if you want to cancel your Credit Card?

Lets Check Out This for Sample letter to bank For Credit Card Cancellation.





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