is it bad to cancel a credit card?
468152
It can be.  If you cancel the card, and you have outstanding debt on other cards or with something else, then your debt to available credit goes higher which could lower your credit score.\n\nThe best thing you can do is keep the account open and just not use it.  If you do use it, pay off the entire balance every month.
66979
To me, all the points and miles business is a hook to lure you into buying and paying for something else or buying something you do not need or weant.  I would look for the lowest possible rate, no annual fee, best grace period, lowest default rates, and a card that has a customer service department based in the US that  speaks English.  I have actually cancelled cards because their customer service centers were in India or Panama and could not understand a word they were saying.  Also, check to see that the interest rate is not computed over TWO billing periods (this can cause you to incur a finance charge even if your balance is zero) Bear in mind that no matter what the terms are you can get, these credit card agreements are one-sided affairs that the card issuer can change at the drop of a hat. So you might think you have one deal one minute and turn around and BAM! all of a sudden the rate is 42%.
859551
If it's a dispute, Yes.\n\nIf you've been billed for something you did not buy, you can dispute it.\n\nThen, there's a small procedure to ensure you're right, but then,  you don't need to pay.\n\nHowever, if you don't have any grounds, it's a cognisable offense that you don't pay.\n\nIf you're having financial problems, the Credit Card Companies and your Bankers will be glad to help and I suggest that you take it.\n\nHave a nice day.
860510
if theres no money owed to them, DO NOT CANCEL THEM but take them out of your wallet or purse and put them in your safe. (if you have a safe and you can get a SMALL one for 30 bucks) HAVING credit cards EVEN if you arent using them looks GOOD on your credit report. I have numerous credit cards with NO money owed to them, sitting in my safe. I keep 1 in my wallet that is still on its 0% APR in case of an emergency. BUt dont cancel them, it will look better to creditors if theyre listed on your crdit report as PAID AS AGREED and it will show your balance available for each card. This will show prospective creditors that you have "money" available to pay off anything that you might "borrow" from them buy applying for a loan or another card. But if you have no cards, they will think youre not as apt to be capable of making payments. Trust me, its like having more than one bank account, creditors LIKE to see that you have accounts at more than one bank for the SAME reason, the better liklihood of you being able to pay your bills.
949223
Paying off the card will not clear the negative data from your credit. It will change to show 'paid off' but the missed monthly payments and collection activity will remain reflected on the report and affect your overall credit score. Unless...you are able to make a deal with the card company for a full immediate payoff if they agree to ask the info be removed from your credit report (and get it in writing first). If you need something immediately, it makes no difference anyway. Even if you can make a deal with the card company, it will be 3-6 months before your report is cleared. Myabe you take the high interest loan now and re-finance later?
506347
dont do it if you credit is bad, not worth it
785837
Call the phone number on the bill, that I'm sure you're still getting with a zero am't due.  Talk to a REAL person, tell them you have no use for the card and you want it canceled.
50404
If you have misused a credit card then you are responsible not the credit card company. You agreed to their terms, now you want to change the rules because they have more money than you? This is the thinking of a child. \n\nWhen you don't pay, who do you think does? The rest of us do. Credit card companies are not in the business to loose money. \n\nIf you don't like them I suggest you get back at them by buying stock in their companies. As their profit rises, so will your stock value.
1117334
you need to call the credit card company and ask them why they canceled your card. There could be a dozens of reasons why they decided to cancel your card. You might have even made late payments and decided you are a risk!!! The worst thing you can do is not find out why!!!!!
972175
is that good credit or bad?
311228
The first thing you must do is cancel that card! Cut it up, put it in the blender, flush it down the toilet, just make it go away! Make sure you let the credit card company know that you want to be taken off their mailing list. Trust me, two days after you cancel, you will be sent another card. \n\nAs for your PLC, the best thing to do is to sit down and explain that using that fund is not an acceptable means of daily living. It is set aside for certain things and day-to-day expenses are not one of them.
1007792
if you have alot of credit cards then close a couple... too much credit is just as bad as not enough credit.....      if you only have a few credit cards then keep them open.......  it raises your fico score....
160010
If the credit card company finds that you owe for the services they will charge you any way, even if you dispute it.\n\nYou should be able to cancel your gym membership with a visit to the gym.  Having to send a form back to them after you visit is ridiculous.
498013
While it will negatively affect your credit it is better than having a charge off or a bankruptcy.  One thing you can do is to pay extra, so that you get out of the program faster.  Once you have completed the payment plan, you should use a credit card with a good history once a month and pay the balance off.  This will show a good use of credit.
644
It may actually hurt you FICO score.\n\nOne part of the score is the amount of credit used versus the amount of credit available. So, let's take a look at an example:\n\n$200 total credit available\n$175 total credit used\n Ratio of 0.875 (high)\n\n$5000 total credit available\n$1000 total credit used\n Ration of 0.2 (relatively low)\n\nThe bottom ration of 0.2 is more ideal. Credit companies have found that the higher the ratio a person has (they get credit and max it out), the less likely they will pay it off.\n\nOf course some store credit cards do not report to the credit bureaua unless you go to collections. So it doesn’t matter what you do with them as long as you don’t stop paying them.\n\nIt’s best to just hold on to them. You might even consider having the credit limit taken up (but don’t max them out). It’s not how much of a limit you have that’s important to the credit companies, it how much of it you’re using.\n\nAlso you may want to consider the fact that although your credit score may not be affected very much if you cancel your card, if the store reports to the credit bureau, other companies will see that you canceled a card. To other companies, this means if they give you credit, you’re likely to just cancel it. Meaning you may be more of a hassle than you’re worth.\n\nHope this helps.
997256
If you terminate your aggreement you will lose and more than likely get a bad credit rating.If you can afford to reduce the payments than thats the best way.Once the Bank/agency get their money they will be content.The last thing they wanna do is go to court to get their money back.Good Luck
408473
i would contact yahoo because they are the ones debiting your account. the credit card company will usually put the responsibility on you. i used to have an aol account and had a very hard time canceling it. i tried contacting my credit card company about it and they told me to contact the merchant directly.