If you cancel that credit card, you could negatively impact your credit score

Your credit score is impacted by a number of factors.  One of the most significant is the length of time that you have retained credit.  Cutting up those credit cards may be beneficial at times, but cut up the wrong card can have an adverse or negative impact on your credit score.  Click on the image below to see how canceling that credit card can hurt your credit score…

My credit score has always been very good, but now I’m thinking of canceling some of my cards because I don’t need all the credit I have and I want to minimize the chance of fraud. How much will this hurt my credit score? Closing your accounts will have an impact on your credit score.

Why canceling credit card can hurt your credit score | Biz Brain | NJ.com

 

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