ID
theft is an issue with every credit card which you need to protect.
However, if you cancel this credit card, it might affect your credit
score, lowering it a bit. It may affect your credit utilization ratio
since the available credit limit will decrease. Moreover, it might also
affect the length of your credit history if it's one of your oldest
cards.
So, it can be a better idea to keep checking your credit card statements
and credit reports to avoid being a victim of identity theft.
How
many unused credit cards do you have? If you have only one unused credit
card, then you can cancel it. That won't affect your credit score much.
Just make sure you pay off the outstanding balance before closing the
credit card. It will help to boost your credit score. And, if you want
to cancel several unused credit cards, then cancel them one by one. That
won't increase your credit utilization ratio.
You
should take care of your credit cards even if you are not using them
frequently. Your old credit card account may effect your credit score,
so make sure you should use them when required.
Keep an eye on the credit report and your credit card statements. If you
find any error of unusual activity, contact the credit card
companies.
So, it can be a better idea to keep checking your credit card statements and credit reports to avoid being a victim of identity theft.
Sub: #1 posted on Wed, 05/15/2019 - 01:26
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Sub: #2 posted on Thu, 05/16/2019 - 04:53
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Sub: #3 posted on Fri, 05/17/2019 - 00:29
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Keep an eye on the credit report and your credit card statements. If you find any error of unusual activity, contact the credit card companies.
Sub: #4 posted on Sun, 05/19/2019 - 23:47
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