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cortester11

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Does closing your credit cards hurt your credit score?
I tend to open and close my credit cards every two years in order to take advantage of the introductory offers. I am actively using and paying my credit cards during this period. However, does closing credit cards hurt my credit score?

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YES!!!

While taking advantage of low intro rates is good, closing cards is bad.  Each card has a credit limit and the more cards you have,, the more available credit.  Ten cards with $1000 credit limit on each would give you $10,000 in available credit.  And the age of credit is important.  The longer you have active credit accounts, the better.  When you close credit cards, you reduce the available credit and mess up the longevity of credit. 

Please re-read the articles supplied on this site so you can better understand how credit works and how to improve yours.  I found them very helpful.

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