Why Closing a Credit Card Could Hurt Your Credit Scores

Error on Credit Card

One of the worst credit myths you will come across is the concept that closing old credit cards is good for your credit. Consumers close credit card accounts for a variety of reasons. Some consumers will close an account because they are no longer using it. Another consumer might close his credit card accounts out of fear of running up a large amount of credit card debt. The next consumer might decide to close his credit card account because a promotional rate has expired. However,