Grow Credit does not charge fees for closing your account. However, we do not recommend that you close your Grow Credit account, even if you are not carrying a balance on it. The reason is that your credit score considers your credit utilization ratio, which compares your current balances to your available credit. Having a lower credit utilization ratio—that is, having a smaller percentage of your available credit used up—can result in a stronger credit score. Closing your Grow Credit account will take away one source of your credit, lowering your overall available credit.

Here’s an article from MyFICO (the official consumer division of FICO) that explains how closing a credit account might affect your credit score.

If you are experiencing financial hardship and would like to discuss your unpaid account balance, please send an email to our customer support team at so we can discuss your options.

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