salena asked:
I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don’t need these credit cards and I would like to cancel them and have this “possible credit” to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?
GLENN
I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don’t need these credit cards and I would like to cancel them and have this “possible credit” to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?
GLENN
it will ALWAYS affect your score. trust me.
Comment by premedguy90 — January 23, 2010 @ 1:02 pm
An accumulation of your salary and this new card is really no cookie cutter one size fits all way of your salary and possibly have less of your salary and make you cancel another card that could.
Comment by Drea G. — January 23, 2010 @ 11:52 pm