how does closing credit card affect credit rating
Don't close your only credit card with available credit. Your only credit card with available credit is likely helping your credit score by lowering your overall credit utilization. Closing this card will leave you with more credit cards that have balances an d higher credit utilization. Just like closing a credit card with a balance, closing one without a balance can also affect your credit score, because you've used up all the credit that's available to you.