The Pros and Cons of Canceling Credit Cards

How does canceling card affect your credit card score? Adam Baker canceled all his cards and wrote about it. His credit score dopped only 10 points but he thought it may dropped more.  His credit was already about 700 so I think results would be different if a person’s score is initially under 700 before canceling the credit cards.

Living without financial burden of credit cards sounds great in theory, but it may be an obstacle later when purchasing a home, car or getting a loan.

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