My buddy at the bar last night swore that closing his only credit card account would 'clean the slate' and his score jumped 80 points. I think he's full of it.

3 comments

3 Comments

Ever hear the one about my cousin who closed his oldest card? He did it thinking it was a smart move, and his score took a dive for months because his total available credit got cut in half. It was a real mess he had to fix.

taylor.mary19d agoMost Upvoted

Wait, he cut his available credit in half with one card?

taylor.mary1d agoMost Upvoted

That's such a rough lesson to learn the hard way. Credit scores feel like they have these hidden rules nobody tells you about. Makes you wonder why they don't teach this stuff in school, right? His poor cousin probably thought he was being responsible by closing an old account.