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Episode 3008:
Sam from Financial Samurai explores the consequences of closing credit cards, sharing personal insights and practical advice to safeguard your credit score and financial health. By understanding key factors like credit history, credit line usage, and account management, you can make informed decisions about whether to keep or close your credit cards.
Read along with the original article(s) here: https://www.financialsamurai.com/should-i-close-out-my-credit-cards/
Quotes to ponder:
"To build a good credit score, you need to prove you can handle credit!"
"If a credit card doesn’t have an annual fee, I see little reason to close it unless, of course, you think it will tempt you to overspend."
"Work on kicking your addictive habits first, before using a credit card."
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Optimal Finance Daily - Financial Independence and Money Advice