Question

 Will canceling credit cards with high available credit hurt my credit score?

Answer Closing a credit card with a high available credit limit will lower your available credit, as well as remove some of your credit history. Typically, it does lower a borrower's credit score, althoug... Read More »
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Top Q&A For: Will canceling credit cards with high available...

Does canceling credit cards affect the credit score?

Canceling a credit card will lower a consumer's credit score because it increases their debt-to-credit ratio and shortens their credit history. Canceling a credit card also changes a consumer's cre... Read More »
http://www.answerbag.com/q_view/2125577

Does canceling my credit cards increase my credit score?

Usually, closing your credit cards will not increase your credit score because you lower your credit limit. However, if you have more than seven credit card accounts, closing accounts may improve y... Read More »
http://www.answerbag.com/q_view/2222666

Does it hurt your credit score to not use credit cards?

On One Hand: Not Using Credit Cards Is WiseIf you know that you don't have the money to make the monthly payments for a credit card, it's best not to use one. According to John Ulzheimer (courtesy ... Read More »
http://www.answerbag.com/q_view/1972216

Will cancelling paid off credit cards hurt my fico score?

Canceling paid off credit cards may hurt your FICO score, according to the Fair Isaac Corporation. Closing an account will not erase past credit problems and it will decrease your available credit,... Read More »
http://www.answerbag.com/q_view/2235944


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