Closing A Credit Card: When It Makes Financial Sense

Closing A Credit Card: When It Makes Financial Sense | NerdWallet

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Күн бұрын

Ready to cancel a credit card? Before you do that, make sure you understand when the right and wrong time to close a credit card is. Sally French breaks down when you should close a credit card, for instance having high annual fees, to when you should keep a credit card, like when it negatively impacts your credit score cause of credit utilization and length of credit history.
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Closing A Credit Card: When It Makes Financial Sense | NerdWallet
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Пікірлер: 16

@bryanduhaney5802 Жыл бұрын

Sally is the best at explaining the pros and cons of credit cards. I always find hidden gems when listening to her content. Can’t wait until the next video.

@Doll2018 7 ай бұрын

Thank you!

@louiswilliams4657 3 ай бұрын

Thank you ! Working on seeing if the retention plan will work!

@User-dh4xj 3 күн бұрын

If I am an authorized user on a card / account that is about 25 years old and something happens to the primary account holder as they get older, what impacts would it have to my credit score and credit report if the credit card account / the account gets closed?

@bcabello1584 7 ай бұрын

But do you still have to use your credit card if you don't want to? I heard that the bank could close your account for inactivity and that is probably bad right?

@peartfaldo 5 ай бұрын

if youre not using it, why do you have it????

@FinanceConsumer 3 ай бұрын

yes they can depends on the bank or institution credit one is one of them and another that closed my account

@chrissan6015 Жыл бұрын

I have had a credit card open for six years but has $100 annual fee. How will that affect my credit score when I cancel it current utilization on all cards is 0%

@chrissan6015 Жыл бұрын

It was a starter $300 card that has no paerks or benefits to it

@h.e.gregory226 8 ай бұрын

@@chrissan6015 that seems like a waste of $100 a year to keep open. Whatever impact to your credit score, having $100 is worth it