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Chapter 11. CREDIT REPORTS > Canceling a Credit Card

Canceling a Credit Card

Perhaps you are looking to take the advice of Henry David Thoreau to “Simplify, simplify, simplify” by closing some credit cards in an effort to reduce your risk of identity theft as well as remove a bit of temptation. If so, which cards should you close?

Close accounts with small credit limits. The effect on your credit score will be minimal. Close retail store cards. You don't need them. Close more recently obtained credit cards. The longer your credit history, the better your score.


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