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Myth 3 should be revised. Closing accounts MAY be dangerous due to decreasing the available balance on your credit cards. It is not a negative strike on your credit score to plainly close an account.

Here is a reference for more insight: http://www.experian.com/credit-education/credit-myths.html




Yes, closing an account will in most cases hurt your score because you lower your total amount of revolving credit.

Sub: #1 posted on Fri, 08/31/2012 - 16:28

waffles waffles
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