Many of us have more credit cards than we actually need, and it's tempting
to cancel a few cards in a sort of "spring cleaning" of our financial house.
Not so fast. When you close a credit card, you can impact your credit
utilization ratio (the amount of credit you are using compared to the amount
of credit available to you) and possibly the length of your credit history,
depending on how long you have held the card you are canceling. Before
you close a credit card account, learn how to do it right.
There are times when canceling a credit card is the wisest course of action.
If you have decided to cancel a card, here are some steps you can take to
minimize the damage to your credit score.
HOW TO CANCEL A CREDIT CARD
