Thinking of closing your credit cards? They can be HARD to give up. For many people, they’re a bit like a security blanket.
Still, some people want to close a single card for various reasons. Some want to close all their cards so they aren’t tempted any longer. Others just want their debt GONE!
That explains why some of the most commonly asked questions when people first start getting out of debt are:
- Should I close my credit cards?
- Does it hurt your credit to close a credit card?
- What about cancelling my oldest credit card – is it true you should never do that?
- How do you cancel a credit card?
I’ll answer all of those questions and more below.
But before I do, there’s one thing you need to know about closing credit cards. When your focus is on getting out of debt, you have to do what’s best for you.