How much does closing a credit card account accutually hurt your credit?
Sunday, August 15th, 2010My husband has a Sears card that has a horrible APR. The balance was recently paid off, but with this rate, we will always owe something on it. (Like a couple bucks.) We’d rather close the account than keep paying a couples buck every month on a card he will never use again.
People have told me closing accounts hurts your credit. But how bad? And I’d really rather close it than deal with the hassle of it.
Just trying to make an informed decision. Thanks.
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