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I had opened a credit card account last month. The company gave some attractive offers, but finally decided against using it. Should I close the account? Will it hurt my score?
I have other credit accounts and have not any missed payments since long. My score is 755. Don't wanna lower it. Need some loans soon. Please advice.
Hi cgs,
Since you have not used the account, it will not affect your credit history. I think you can close the account without hurting your credit score.
It is really good to know that you are careful while using your credit accounts and make timely payments. I feel a score of 755 is good enough to be approved for a loan, with reasonable rates of interest.
close credit card accounts
Hi cgs,
There are 3 steps you should follow to close a credit card account. They are as given below:
1) You should call to inform your credit card (CC) company that you want to close the account.
2) You must also follow up in writing, mentioning your name, address and account number.
3) You must add in your letter, a request to report to the credit bureaus, the updated account status, after it is closed.
4) You should also check your credit report, after 30 days (from the day when the CC company has received your letter) to see if the account has been listed as "closed".
Hope this will help :D