The Only Times You Should Close a Credit Card (and How to Do It Right)
Close a credit card only for a good reason, and do it this way.
Despite what many people think, closing a credit card ahead of applying for a mortgage or refi will not make you look better in the eyes of a lender. We have covered the tricky relationship between debt usage, credit scores, and mortgage evaluations before. We also talked about the credit score that really matters to lenders. Suffice it to say that...
