Does Cancelling a Credit Card Hurt Your Credit Score?
Yes cancelling your credit card will hurt your credit score.This is because part of your credit score is comprised of factors such as “Types of credit,” “Length of credit history” and “Debt to credit limit ratio.” If you pay off a card to 0 and leave it open, that is the best bet because then your debt-to-credit limit ratio will be 0%, which helps you to have a better score. (…)
