Attention, #credit-conscious consumers! Did you know that the common belief about closing #creditcard accounts being good for your credit score is actually a #myth? In fact, closing a credit card with a #highcreditlimit could potentially hurt your credit score. Why? Because your #creditutilizationratio - the amount of credit you're using compared to your total available credit - is an important factor in determining your score. When you close a card, your total available #creditdecreases, which can cause your utilization ratio to increase, potentially ding your #creditscore. Don't fall for this credit score misconception! Keep that high-limit card open to maintain a healthy credit profile. Your score will thank you. So, the next time someone tells you to close that #oldcreditcard, remember: the facts say otherwise. Share this myth-busting info with your friends and family to help them make informed #creditdecisions. For more details, get in touch with us: Credit Helpline - 8000 911 911 Associate Helpline - 9712 911 911 Bankers Helpline - 6357 911 911 CA/IDC Helpline - 6356 911 911 Missed Call - 7574 911 911 Email - credithelp@apoorvaa.co.in Website - www.apoorvaa.co.in . . . . . #CIBILScore #CreditScore #FinancialFreedom #GoodCredit #CreditHealth #CreditWorthiness #LoanApproval #FinancialWellness #CreditRepair #CreditHistory #FinancialGoals #CreditManagement #DebtFree #SmartFinances #FinancialSuccess #CreditBuilding #BetterCredit #MoneyMatters #PersonalFinance #FinancialLiteracy #CreditReport #InvestInYourFuture #ApoorvaaFoundation