This is kind of a widely known credit preservation tip, but some people still do not practice it when they are paying off credit cards and/or cutting them up and never using them again. When you stop using a credit card, and you’ve got it paid off, go ahead and cut it up if you truly will never use it again, but regardless of that fact, do not call and cancel the credit card.
Leaving open lines of credit is actually good for your credit score, even if you’re not using it and it has a zero balance forever, your credit score can benefit from keeping it open.
Some people say “but I really feel like it’s not really “paid off” unless I cancel it. Well, I would say if you have a credit card with an annual fee, this may be a concern, but if you have no annual fee and you know you’re not using it, who cares? You’ll never accrue any interest on new purchases, and the company should not send you a bill, so it’s out of sight out of mind anyways, right? Same as cancelling it, only better for your credit..