credit score considerations

Paying o debt is a massive achievement. You may even be inclined to close the credit card responsible for your debt to prevent further spending temptation. Closing a credit card, however, can ultimately cause more harm than help. For one thing, the length of your credit card history matters. An account of 15 years in good standing may help your score while it’s open but, when canceled, will typically be removed from your credit history after 10 years. On the other hand, if the reason for wanting to close your credit card is due to an expensive annual fee, it may prove beneficial to close the account and shop around for an alternative way to boost your score.

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