Young Smart MoneyWhy You Should NEVER Cancel A Credit Card
11min2020 NOV 30
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If you are thinking about cancelling a credit card, you are likely making a big mistake. When you cancel a credit card, you immediately hurt your credit score in a big way. In this video, I'll break down what you should do instead to build your credit score.Follow me on Instagram! - AppleCriderOfficialIf you have a credit card that you no longer use, you might have thought about cancelling it. I'm here to tell you that this would be a very bad idea. Building your credit score is a process that takes a long time and one misstep can have a huge impact.Cancelling a credit card is a massive mistake because it negatively impacts all 5 of the criteria that make up your credit score. For a full breakdown of those, check out this video: https://youtu.be/yB-iv6zSsMMFortunately, there's a much better solution than cancelling your credit card that is easy to do and will end up boosting your credit score in a big way.Now if you have a credit card with no annual fee that you are thinking about c...