Read this before deciding which credit card account to close.
People believe that closing out an older credit card with a higher interest rate will help their credit score. They might close one of their first credit cards acquired when their credit wasn’t well established. They might assume that shredding credit cards will help boost a credit score. It seems logical that closing cards with a higher interest rate and keeping the lower rates will improve the score however closing an older credit card won’t help your score. It might hurt you. Call Sue Craig, Independent Financial Coaching to learn how to improve your credit rating.