You must be wondering whether you should close out a credit card account as you like.
In fact, you have to put some thoughts into it before you do so because opening and closing any credit card accounts will actually affect your credit score or your reputation to the card companies.
Let's take a simple example to see how you will end up hurting your credit score.
You do own three credit cards.
Two of them are already maxed out while another is not.
Now, if you close out the one that has not been maxed out, it will give an impression to your future card companies that you are a regular debtor.
So what do you think? Your credit report will still be clean? Even if all of your cards are paid off, the companies will still doubt about your ability to clear all the payments timely since you do have several cards with you.
They will look at your salary to see whether you could max out all your cards out of sudden and unable to pay them back later.
From what you can see above, closing out a credit card should not be done without sufficient consideration.
In order to protect your good credit score, you need to plan well before applying or closing any card accounts.
If you are not sure what to do, it is advisable to ask help from the professional.
The money you pay him is better than the big stain on your credit report.
After careful consideration, you still can close some of your card accounts, with the condition that you have paid off your debt.
The main tip is still about how you manage your finance and do not make your life miserable by having much debt.