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Old Credit Cards

  • by jcdillin - Thu, 12/03/2015 - 23:35

Did you know that closing out old credit cards can very well lower your credit score? Well it's true. One of the many key factors that combine your score is how old open positive accounts are. The longer they are open the stronger the impact on your score. So..if you are thinking about closing out credit cards that you do not use but have had for a very long time do not do it. Also if you are not using them just charge something on them once in awhile so that the creditor does not close the account out for non-usage.

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Why it is important to have a good credit record

Why it is important to have a good credit record

There are many reasons why it is vital to maintain a good credit record. While people might realize the difficulties a poor credit record might have been some areas of their life, they often don’t realize how a bad credit rating can affect other important aspects of their life such as employment.

Detailed below are some of the reasons why it is important to have a good credit record.

Getting a loan

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