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Posted in Credit Cards
My husband and I just opened a Chase Sapphire Preferred card. Should we close our mastercard?
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sdendinger

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Closing cards is nearly always a bad idea. Much better to keep the old cards and use them occasionally to keep them alive. Closing cards lowers your total available credit. That increases your utilization rate -- which is a hugely important part of your score. Also, when you close an older card and keep only newer ones, you shorten the average age of your tradelines.

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Clairissa

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