Answer: -First, do you have fees to pay even when there is no balance?If there are no fees when there is no balance, just stop using the card. Don't close the account if you have a good payment record and/or the account is the oldest credit card account you have. Longevity of a good payment history boosts your FICO score.If there are fees that are applicable regardless of any balance, close the account. Why should you pay a credit card company for the right to put their card in your wallet? There are lots of companies out there that offer credit cards with no annual fees and low interest rates on balances. -All you have to do is simply contact the Credit Card company you have the card through and tell them that you want to cancel that card. If there is no balance on the card they can close out the account for you over the phone. The only issue you will run into is that they will try to talk you into keepign the card with their BUllCrap sales talk and asking you why you want to close the account, you just have to stay firm and get a little forceful with them and just tell them that you want to close it and its none of their business as to why. Also request that they send you a notice or letter stating the account was closed along with the date so that you have a record of your closing the account in case anything arises in the future that you need to clearup.It will not hurt your credit score in the least, for a point up or down on your score anyway is it worth paying $50 each year ? You might as well just throw that money away.If you call and want to close your account they have to do it for you and they do not need to know the reasons why your doing it at all. They just hassle you to try to keep getting money out of you especially if you get an annual fee and never are using it anyway thats free profit to them!!