How will my credit be affected if I cancel a credit card?

So I want to cancel my Macy's Credit Card, CitiBank card and a tiffany's card. They all have a balance of 0.00. Will my credit be affected in a negative way if I close down these credit cards?|||Why are you getting answers from so many people that don't know ANYTHING about credit?





HOW ANNOYING!





If you cancel them that will negatively effect your credit score. It will shorten your credit history and lessen your available credit to debt ratio.Why would you want to cancel them? Only cancel them if they are charging you annual fees..If they aren't just keep them they help you establish stronger credit. Nothing good will come out of cancelling them.|||Macy's and Tiffany may not hurt much, since you can only use them at those stores, however, assuming that the Citibank card is either a Mastercard or Visa, closing the account will lower you debt to available credit ratio which will lower your score. If the card does not have an annual fee, you can leave it open, just not use it.|||The longer your credit history the better - so if you have had a card for 10 years even if it does not get used all the time that is still a 10 year history of paying as agreed. That looks better than 1 year. But it is not worth keeping cards open that you do not need as the total available credit may scare a lender - like you could max out your cards on cash advances, take the $10K and leave town.|||yes it will!!!! dont cancel! just dont use them, cut them up and throw them away. believe me on this one--im a business major and ive heard horror stories bout credit cards in my finance classes. Cut dont Cancel! if you call and cancel it will show up on your credit report and creditors are going to wonder--"why did this person cancel a credit card, can they handle the responsibility?" and possibly turn you down for credit on something that you really want or need because of the inquiries|||It has been said if you close them down with a no balance, it should not go against you...I made the mistake recently of losing several cards with a balance....I am continuing to make payments of course, I just don't trust the credit card companies anymore. They may ask why you are closing them.I told them it was due to the economy,partly true..Do it in writing and keep a copy...|||The more credit you have available to you that you are not using makes for a better credit rating/ FICO score. Why not just destroy the cards and keep the accounts open? Don't open any accounts just for the free t-shirts-the more hard hits on your credit, the more it lowers your score. |||No, you'll be better off for doing it. All you really need is one credit card. And then pay the balance off every month. You will build outstanding credit that way. Never charge more than you can afford to pay. Use cash for most of your purchases.|||Depending on your personal situation it might HELP you. You're closing in good standing so it's a good reference. Also your ratios of income to potential debt exposure will improve. Would definitely help you in a mortgage situation. Is this the best answer?!|||why should it? I have canceled many credit cards in my lifetime and it never affected me.





It is worse to have them and not use them or take them to the limit ....I only have ONE credit card and then my debit card. I don't need any others...why pay that interest?





|||It reduces your amount of available credit and reduces your available credit/debt ratio. It's a temporary issue that will correct itself in a couple of months. go to www.fico.com for more details|||best way would be to call them each.





each has their own policy. for example, LL Bean knocks about 10 points off of the score.|||Its better to keep them open ,|||Nope.Its a good thing.|||Nope.