What to Know Before You Cancel a Credit Card

Find out the right way to manage credit cards so you can build excellent credit scores and improve your personal finances.

Laura Adams, MBA
5-minute read
Episode #256

Since Danielle doesn’t want to get rid of all her credit cards, the main factors she should consider are:

  • Whether the cards she’d close have high credit limits
  • How long she’s owned the cards she would cancel
  • Whether she wants to finance a large purchase in the near future

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For more strategies to raise your credit score fast, be sure to get my Credit Score Survival Kit. It’s a free multimedia download that’s packed with information to help you take control of your credit so you qualify for low-rate loans, cheaper insurance, and many other benefits that come with having good credit.

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For more on how to build and maintain excellent credit, get a copy of my book Money Girl’s Smart Moves to Grow Rich. It tells you what you need to know about money without bogging you down with what you don’t. It’s available at your favorite book store in print or as an e-book for your Kindle, Nook, iPad, PC, Mac, or smart phone. You can even download 2 free book chapters at SmartMovesToGrowRich.com!

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Check Out These Related Articles and Resources:

Does Cancelling a Credit Card Hurt Your Credit?
How to Raise Your Credit Score Fast
Credit Score FAQ VIDEO
How to Use a Balance Transfer Card to Get Out of Debt
Credit Score Survival Kit – a free multimedia credit resource!
Raise Your Credit Score: 3 Smart Strategies to Use Now!

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About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.