Oh no! This sounds concerning @milesabbey,
I'm sorry to hear you are having financial problems, I'm not certain about what financial problems you might be going through, but I'd like to offer any potential advice or solutions that may be helpful to you.
In regards to closing your credit card, this could actually have a negative impact on your credit report/history. Once you've been approve for a credit card, the account will show up on and contribute to your credit report/history. This is good, as long as you are keeping your account in Good Standing, meaning, paying on-time, not going over the credit limit, etc.
The amount of credit that is extended to you, also factors into your "Debit to Credit Ratio," which means the more unused credit you have will offset any debt on your overall credit history.
So, it might be a good thing to allow your credit card to remain open and if preferred, just don't use any of the credit for a time. Closing the card can lower your credit score initially however, allowing the account to remain open, can positively impact your debt to credit ratio.
Also, with a credit card you have a month to "spend" and another 25 days before the balance is actually due. This might actually assist you in a pinch when a bill is due and you are waiting for funds to come in. As long as you are paying off the credit card by the due date, no interest will accrue on purchases.
If having the credit card in your possession is too tempting for you, you can always cut up the card, but leave the account open so it can still affect your credit history in a positive way.
As a member, one of your benefits is financial advice from our licensed financial advisors. I encourage you to give a call for a conversation when you have time to discuss your financial future. We're here to help ;)
If you have any more questions I can assist you with, please reach back out here.
~ Lori C