Don't fall for the myth that closing a #creditcard will boost your #creditscore. In fact, that couldn't be further from the truth!
The reality is, closing a credit card can actually hurt your score. That's because it reduces your overall available #credit limit, which can negatively impact your #creditutilizationratio - a key factor in determining your score.
Instead, we recommend keeping that credit card account open, even if you don't use it regularly. Maintaining a healthy #CreditMix and keeping your utilization low are much better strategies for building and protecting your #creditscore in the long run.
Don't let credit score myths trip you up. Stick to the facts and you'll be on your way to a stronger, healthier #FinancialFuture. What other credit score questions can we clear up for you?
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
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