You
can do it if doesn;t hamper your oldest credit history and the credit
limit. If your debt amount is low, you can cancel your card as it won't
increase your credit utilization ratio.
Hi. I
would suggest you close your high-interest credit card asap. Yes, it may
hurt your credit score a bit. But using high-interest credit cards can
make you vulnerable to fall prey to the debt trap.
You
have to pay a high rate of interest only when you use the card. Right?
In my opinion, the best option is to use the card only when there is no
other option. But don't close it. You would lose the credit history.
Maintain a good payment history. Thereafter, you can ask the credit card
company to lower your interest rate.
Sub: #1 posted on Thu, 03/04/2021 - 22:32
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Sub: #2 posted on Sat, 03/06/2021 - 19:10
Moderators Cum Industry Expert
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Sub: #3 posted on Sun, 03/07/2021 - 21:34
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Sub: #4 posted on Mon, 03/08/2021 - 20:20
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