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drfjones
Member since: March 2009
Total Contributions: 1
Activity
(1 Total Contributions)The Do’s and Don’ts of Closing Old Accounts
Over the years I have obtained a large number of credit cards - always after a better deal. I can't use them all because my wife refuses to write all the checks for the payments. We have always paid all balances on time - no late penalties, no interest payments,etc. I would like to close some of the dormant accounts (one company did close one on me - a card we never applied for), but know that my credit score will decrease if I do so. I am caught in a Catch-22. Can someone explain why a credit score would decrease with cancelling an account when there is a perfect payment history??
Comment posted 2 years ago
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