🤔 True or False: Closing #creditcard accounts actually boosts your credit score?
The answer might surprise you! 🚫 While it may seem logical to close unused cards to simplify your #finances, doing so can have the opposite effect on your credit score.
When you close an account, you’re reducing your overall available #credit, which can increase your credit utilization ratio—a key factor in determining your score. 📉
Don’t let misconceptions hold back your financial health! Knowledge is power. 💪 Keep those accounts open and learn how to manage them wisely instead!
Curious to know more about maintaining a strong #creditscore? DM to know more.
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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