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Should you cancel your unused credit cards?

The Simple Dollar has sparked a great debate about what to do with unused credit cards. One key thing to watch is your credit rating.

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{ 1 comment… add one }
  • 1 point of sale system September 14, 2010, 8:17 pm

    If you have great credit then it’s fine to cancel your account. The best thing is if you have no balance on your card then use it for paying an electric bill or gas for 1 month because that’ll keep your credit building instead of cancelling it and your score goes down.

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