I canceled my Discover Card today. That company makes it impossible to do so without being very patient. I can't believe the number of times they delayed the process just to help reduce the chances I'd follow through with my plan to step away from their clutches. I had to endure being transferred to several employees, listen to the second employee list off reasons why I shouldn't cancel the card (I've got other cards with debt on them still - I have no need for more debt opportunities), and finally when I threatened to blog the situation (which I did) she canceled the card! She then recommended that I take advantage of their offer to re-apply within 90 days. Crazy.

I did it. It is my first of three cards to pay off, but I'm excited.

I'd be careful about closing cards. Doing so reduces your available credit and thus drives up your debt ratios, which can negatively impact your credit score. Whether or not you're planning on borrowing money again it behooves you to maintain a decent credit score if only to keep your insurance rates low. If you're worried about using them freeze them in a block of ice in the freezer, or shred them (that way you have a few days to think about whether you need them when the new ones arrive in the mail), or if you have the self-control just lock them in a safe place.

sdkramer is correct, but I still think that canceling cards is a good move for some people. If you're paying down your debt, the ding to your score is temporary. And personally, it was more important for me to be RID of the cards (and the temptation) than to maintain a perfect score. (My score was very good, anyhow.)

Be aware of the consequences, but don't be afraid to cancel them.

I am 65 years old and have used a credit card one time in my life [for overnight travel by myself,used my wifes card]in my previous marriage I had to pay off my wifes card with my business account three or four times when she could not handle it and when we divorced I spent two years paying off the debt on the Discover card and when it was paid I canceled it, my wife now has her card but she pays it off each month, you can build credit through your banker by borrowing small amounts and paying it back and then do so again each time a little larger amount until you have credit , I hate credit cards because some people get into a real mess and the rates they charge should be illegal

Discover i think is notorious for making it difficult. I had 2 discover cards (taking advantage of a zero percent balance transfer offer), and I canceled one that was no longer needed. The first time i tried my call was "dropped", and the second time the girl gave me a bit of hassle. But I flat out said, no, I just want cancel it, so do it, and she listened.

They must have some sort of employee metrics and you win points for retaining the customers.

Why not just cut it up but leave the account open (with e-mail notification of statements). That way you can't use the card anymore, but it leaves that credit line on your report which helps your score. If there's ever any questionable activity on it, you'll get an e-mail.

Keep in mind that, fair or not, credit scores are used for a variety things. Insurance (as noted above) is one thing, but also renting property, and even getting a job (yes, believe it or not, many employers check your credit).

Of course, once you have all of your debt paid off, one small credit limit with a zero balance would give you 0% utilization.

Is Discover really that bad?

I'm not trying to defend the "Big, Bad Credit Card Companies," but in my experience they were the best I've dealt with. I recently had a concern over why my available credit was much lower than it should have been, and they helped explain that certain gas stations pre-authorize up to $100 per fill-up, and then can take up to 30 days to remove it. She was able to remove the pre-authorization while I was on the phone as the real charge had already gone through. I have their "More" Card, and just took advantage of it to book a vacation through their 5% back promotion. I paid it off the day after the charge went through, then redeemed the points to cover my vacation clothing costs (I don't own any shorts). This is the last card I need to clear up to be out of debt from the Credit Card Companies, and I still have 0% until August. I've set aside enough each month to pay it off just before the rate goes up.

I'm hoping to steer clear of using any cards in the future, but will probably keep this and my Washington Mutual card open. The WaMu card is nice because they report my credit score each month for free, unlike most cards which charge a fee. My fiancee actually had that service with her Capital One card. They charged $7.95 a month, or something crazy like that. She ended up closing that card after a bogus charge was listed for $100 from the Apple Store. (We knew the charge was fake, since she kept good records of all her purchases. The charge had a phone number listed with it, so we called it in hopes to clear up the mess, and it turned out that whoever posted the charge on her account used one of those "Rejection hotlines" as the contact number. It made disputing the charge very easy...) Anyway, even after we were told that her card was closed, Capital One charged her the $7.95, and then charged a late fee on top of it when it wasn't paid! We argued and got them to drop the late fee, but they made us pay the $7.95 since the service was through some "outside company" Capital One uses, which she was responsible for notifying... This was probably a case of overlooking fine print on her part, but I still feel it's shady to allow a charge to go through on a closed account.

I'm glad to hear that you were able to eliminate your debt on the card though. It's a tough call whether to keep the account open to help your credit score, or close it to help you sleep at night. I wish you the best of luck in clearing up the last two!