Village News - Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

Canceling credit cards: Does it help or hurt credit?


Last updated 12/10/2017 at Noon

Consumers should exercise due diligence before closing a credit card account.

FALLBROOK – Credit cards offer many advantages, including providing a measure of insurance when making purchases and enabling an individual to develop a healthy credit score through prompt payment of balances. According to a 2016 Gallup report, about three out of four adults in the United States have at least one credit card; many people have two or three.

While there is no magic figure for how many credit cards is the “right” number to have, those shiny plastic cards can have a significant impact on consumers’ financial well-being. People looking to rein in spending or consolidate...

For access to this article please sign in or subscribe.


Reader Comments


Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2018

Rendered 01/07/2019 04:19