How much does cancelling a credit card with a balance hurt your credit score?

Tips and Deals Forums Improving Your Credit Score How much does cancelling a credit card with a balance hurt your credit score?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 8 years, 5 months ago.

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    Anonymous

    My husband and I just recently divorced. We have close to a $1000 balance on a credit card with a credit limit of $3600. We have had the card about 5 years. We agreed to split the balance we accrued prior to divorce, but he keeps using it. I want to close it so he can’t use it. Can anyone tell me how many points closing the card will bring my credit score down? Or, can you tell me how to calculate this? Is there some type of formula I can use? Thanks!

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