Closing your credit card? That ‘responsible’ move could cut 50 points from your credit score

Zee News Closing an unused credit card may seem like a smart move, but it can lower your credit score by 10 to 50 points. It affects credit utilisation, credit history, and payment record, which lenders closely watch. Higher usage ratio and shorter credit history can hurt loan approvals. Before cancelling, check for no-fee options, clear dues, and avoid closure if you plan to apply for a major loan soon. https://ift.tt/mHkCXnD May 14, 2026 at 05:23PM Closing an unused credit card may seem like a smart move, but it can lower your credit score by 10 to 50 points. It affects credit utilisation, credit history, and payment record, which lenders closely watch. Higher usage ratio and shorter credit history can hurt loan approvals. Before cancelling, check for no-fee options, clear dues, and avoid closure if you plan to apply for a major loan soon.

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