Credit cards: 3 you can close, 1 you shouldn't

April 18, 2015 3:32 PM

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Closing unused credit card accounts may sound like a good idea, but it could hurt your credit score because of increased utilization and, eventually, shorter credit history.

That said, if you want to close accounts, you should aim to close cards that won't hurt your score significantly or those that cost you fees to maintain.

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