How Do I Cancel My Macys Credit Card?


Will canceling store credit cards help or hurt my credit score?

I have fair credit since 2 hospital bills were billed to the wrong address and never made it to me. Now, I would like to start looking at buying a home, however I have a JC Penny credit card (300 limit), a Macys card (100) , and a New York and Co. card (200). I don't use the JCP or NY and Co. and only use the Macys card to keep building SOME credit. My question is, should I cancel the ones I don't use, or keep them? Every now and then I will put something on the JCP card but I usually pay it off within a month or so, so essentially, it's not a long term payoff. What should I do?

Canceling those cards will lower the amount of available credit which will lower your score.

This will also erase the history of the length of time that the credit was available to you, and since the longer that you have had credit the higher your score, your score will go down as well.

Keep them even if you don't use them, they will help build your score the longer that you have had them.

EDIT:
Lisa brought up an excellent point about credit cards going inactive if not used, thus not being report to the credit bureaus. I didn't even consider that.

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.

If I close my 1 year-old credit card, how will it affect my score?

Used this card to buy (then return) an item from Kay Jewelers (store credit card). After that, I have never used it. I have 3 other cards that are the same age (3 years), but have high balances that I am going to pay off within the next 3 months or so.

Before you decide to cancel your credit card, you need to first determine that it’s a good idea to do so. Even after you pay off your credit card debt, it is important to think twice before canceling credit cards. This is because whenever you cancel a credit card, it affects your credit score in a negative way.

Your credit score is based, in part, on how much credit you have available. When you cancel a credit card, you are reducing your available credit.

which credit cards should i close ?

i have these credit cards. macys , capital one , chevron , ashley stewart ,target and reward zone mastercard . i want to close 4 of them and keep only 2 . which ones do u think i should close ? will it hurt my credit if i close them ?

Yes, closing the credit card does hurt your credit
If you close a credit card, it kind of indicates that you are unable to pay them. Though its not always true.
I have a couple of credit cards that I opened so many years ago which i tucked them away and have never used it. I would not close a credit card, but just stop using it. This may even improve your credit score as your usage% of total credit will reduce.
If you still do want to close the credit card, leave the oldest credit card, because older the credit card on your file is better as it proves long standing credibility.

Credit card information?

I have a hdfc credit card. When I had got my card. Hdfc ergo has issue me a policy with my permission. And amount deducted from my card. But now I want to cancel my policy. And I requested hdfc ergo to cancel my policy. But they didn't cancel my policy. And says that my policy will renew on 18 may 2013.and amount will automatically deducted from my credit card. So what can I do now. If they don't cancel my policy. If I choose credit card hotlisting . And request for a reissue credit card. Can they deduct amount from new credit card also. Or not. And tell me is there any other way if company not cancel my policy. Pls suggest me.

Cancel it and go to another service provider

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