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  • When should you close a credit card
    • Closing a credit card with zero balance

    Is it better to close a credit card or leave it open with a zero balance...

    Should I cancel my credit cards if I don’t use them anymore?

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    By the time you're well into your tenure as an award traveler, your wallet is likely split into two groups. You have everyday cards, such as the Chase Sapphire Reserve, that you swipe frequently to take advantage of their generous bonus categories, and you probably have other cards you rarely use.

    So there are two questions: Should you cancel cards that you no longer use; and what will it do to your credit score?

    Opening or closing a credit card is not something you should do lightly, and cardholders are spot-on for thinking about the consequences of this decision.

    Pros and cons of closing a credit card

  • How long does it take for a credit card to close due to inactivity
  • Is it better to close a credit card or leave it open with a zero balance
  • What happens if i close a credit card with a positive balance
  • How to close a credit card without hurting credit

    • There are a few things you will want to consider. The first involves one of the most important aspects of your credit score: the amount you owe compared to the amount of credit you have (frequently referred to as your credit utilization rate).

    This is all about how much of your overall available credit you are using, and it makes up 30% of your FICO score.

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