Credit Cards 101 Credit Card - Credit Cards 101: Does Closing A Credit Card Hurt Your Credit Score?

By Invest Skills | Apr 17, 2023
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"Credit Cards 101 Credit Card - Credit Cards 101: Does Closing A Credit Card Hurt Your Credit Score?"

Does Closing A Credit Card Hurt Your Credit Score?
When it comes to credit cards, one question that often arises is whether closing a credit card hurts your credit score.
The short answer is yes, it can.
Closing a credit card can lower your credit score because it reduces your available credit and can also impact your credit utilization ratio.
However, if you need to close a credit card, it's important to weigh the benefits and drawbacks and take steps to minimize any negative impact.

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