Sep
22
Don’t Close Credit Card Accounts With Balances
Filed Under (Finance :: Mortgage & Debt) by admin

I know it is tempting to want to close out your credit cards when you decide that you want to get control of your debt. However, if you close an account that has a balance, then it looks bad on your credit report. This is because the report will reflect that you have no credit. If you have a balance, it will appear that you have maxed out your credit line. If you are trying to do credit repair, then you need to do some research, or talk to a professional before you close any of your existing credit card accounts.

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