<prompt> Human: Its August and I have had a credit card for a year now. I initially got the card because I was attracted to the cash back I would receive after a year of spending on that card. I have been very religious at budgeting and making the monthly payments in full and have built up a good credit score. Now after learning about personal financing and wanting to live a debt free life, I want to cancel the credit card and pay for everything in cash. I am graduating college in December and I am afraid that if I cancel the credit card, my credit score will fall and I wont be able to rent an apartment after school. Should I cancel the credit card or what do you suggest?  <response>: If you pay off the card every month, you are debt free. Nobody here would advise you to avoid credit cards all together as long as you can use them responsibly.Closing the card will hurt your score. Keep it open even if you dont use it much unless there is an annual fee. 