Closing credit card account Y or N?

[dhwms]

So I got into financial trouble after losing my job and maxed out my credit card.

Now I’m putting the balance in a 0% interest balance transfer while I get back on my feet and my mother is telling me to close the credit card account.

It’s my oldest credit account (I only have two and no mortgage) about 5 years old and it’s the one with the largest credit limit. Would closing it after transferring the balance to a new account create any longterm damage to my credit score?

Thanks in advance!

 

[grahamsnumber]

@dhwms I would cut up the card (assuming the reason your mother wants you to close it is to reduce risk of running up debt again) but not close it as the length of time it's been open should help your credit score, assuming that it is costing you nothing to leave it open.