Credit Card that’s right for you !!

There are 100s of different credit card in market to chose from. According to data from FRBNY Consumer Credit Panel, there were ~450 million credit cards issued in USA in Q4-2016. There are people that still rely on cash and have no credit cards while there is someone who has gone to an extent to set a Guinness World Record for most credit cards (1,497 to be precise).

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Closed Accounts can bring your credit score down

Yes, closed accounts can also hurt your credit !!

  • A card that has been closed by issuer due to several reasons can negatively impact your credit report
  • If the inquiry for that card still exists on your report, it might signal that you were declined for this card
  • A large number of unused credit cards points to future payment problems
  • Closing a high tenure card brings down your average tenure on the credit report which negatively impacts your score

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