I payed off my credit card and then cancelled it. Would it affect my credit score?

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Posted by Chloe Desouza (MONEY FORUMS: 4, Answers: 0)
Asked on May 8, 2016 10:23 pm
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It lowers the denominator in the ratio of how much your available credit you are using. This is one of the factors in the credit score, so it might lower it a bit. If you don’t use your cards much and always pay them off, it might not. If the credit card you paid off had a balance you were carrying for awhile, then the fact that you paid it off would positively impact the score.

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: May 9, 2016 8:33 am
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