Should you cancel an unused credit card?
It might seem counter-intuitive, but sometimes you should keep a credit card, even if you don’t use it. Cancelling credit cards can damage your credit rating.
Beth Deyo has been a professional financial writer since 2019. She specializes in personal financial planning, credit repair, and insurance topics. Before her career change, she spent 14 years as a wealth manager and financial planner.
She has a Bachelor's Degree in Finance from the University of South Florida, where she graduated magna cum laude. Today, her passion lies in helping readers learn how to manage debt and credit issues and understand other complex financial topics.
It might seem counter-intuitive, but sometimes you should keep a credit card, even if you don’t use it. Cancelling credit cards can damage your credit rating.
If you have a low credit score or a limited credit history, you can start building credit with a secured credit card. Here’s what you need to know.
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