What happens if I close my paid off credit card?

I pay off my credit card monthly. Although i do this, I still manage to spend way more than I originally intend to and it needs to stop. My solution is to close my credit card. Will canceling my credit card damage my credit? Will not having anything active like a credit card stop credit from building?|||It can only slightly hurt, and in fact may not hurt at all. The account will show up in your credit report for a long time, and will show that you closed the account--no biggie.





You could always keep it active, but simply lock it up or never us it. That way, you could keep the credit open and use only for emergencies. But if you can't use self control and have a serious spending problem, cancelling the card may be best. Good luck!





http://www.Credit-Card-Advice.com/|||It will hurt your score. You can read more details on how your credit score is calculated: http://www.comebackcredit.com/how-is-my-鈥?/a>





Briefly, a full 30% of your score is based on your available credit. If you close the account, you don't have any available credit.





You would do better to pay it off and just cut the card up and pretend it doesn't exist.





It is very good that you recognize you spend too much but you also need to realize making a fast action could really affect you later when you want to buy a house and don't have sufficient credit.|||Closing your credit card account will lower your score, particularly if you only have one or two accounts. Your score is based on how much of your available credit you are using. If you close the account even though you owe the same number of dollars they will be a higher percentage of your available credit. Don't close the account. Learn to control your spending.|||You take a small minor hit that disappears in no time. You are ahead of the game in that you realize closed account is better then the temptation.


I had two store accounts increase my rate, that did not bother me since I pay in full but then they wanted to charge me $1 for a paper statement. Closed them both and took a hit for 5 points.|||Yes, it will affect your score


Yes, having no credit will stop your credit from building


You would do better to curtail your spending, rather than cut up the card|||I heard your credit score will suffer. Just try to hide it somewhere and not use it.