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Credit Card Applications » Questions » User Questions » Build Credit History » I signed up for and received a Spirit World MasterCard Card. I did this while on a flight to ...

I signed up for and received a Spirit World MasterCard Card. I did this while on a flight to get the extra 15000 miles. I no longer want the card. Will it hurt my credit rating if I cancel the card now and never use it?

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Leo Zhu

Your score will definitely change especially if it is the oldest credit card in your profile. When you close old card, you shorten your credit history and lower your credit score. If it is a new account, then you can freely close it. Next thing to consider is your credit utilization ratio. Calculate what your credit utilization ratio will be after you close this card. If it is going to be higher than 30% then your credit score can be lowered significantly. Your credit score changes all the time, so if you want to close this card, just do it. You simply need to work a bit harder to raise your score back.

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