WebJan 16, 2024 · Now say an issuer cancels an inactive account with a $2,000 credit line. Your utilization shoots up to 50%, and your scores likely suffer. Average age of accounts: If the credit card that got ... Closing a credit card account can have a negative impact on your credit for several … Shortly after the Card Act became law, one subprime credit card issuer started … WebJun 23, 2024 · There are a few things you can do to minimize the financial damage when a lender closes your credit card. 1. Figure out why your card was shut down. Your very first move after your card is shut down should be to figure out why the credit card company made this decision. Call up the company’s customer service department and ask what …
How to Close a Credit Card Without Hurting Your Credit Score
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Banks Shutting Down Accounts: Important Read
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