Closing A Credit Card: When It Makes Financial Sense | NerdWallet

Ready to cancel a credit card? Before you do that, make sure you understand when the right and wrong time to close a credit card is. Sally French breaks down when you should close a credit card, for instance having high annual fees, to when you should keep a credit card, like when it negatively impacts your credit score cause of credit utilization and length of credit history. Suggested Articles: Pruning Your Wallet: When Is It a Good Idea to Cancel a Credit Card?:https://www.nerdwallet.com/article/cr... Does Closing a Credit Card Hurt Your Credit Score?: https://www.nerdwallet.com/article/fi... How to Cancel a Credit Card in 6 Steps: https://www.nerdwallet.com/article/cr... #NerdWallet #CreditScore #CreditCardCancellation Subscribe to NerdWallet - https://bit.ly/3wGvVf3 About NerdWallet: We’re NerdWallet. And we’re not your typical finance company. We believe that everyone should be able to make financial decisions with confidence. We’ve built a team of Nerds with the knowledge, passion, and skills to make that happen. Thanks to our Nerdy experts, see side-by-side comparisons and objective reviews of the best credit cards, bank accounts, and so much more — so you can get even more financial clarity. It’s the smartest decision for all your financial decisions. Disclaimer: This video is for informational and educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Any comments posted under NerdWallet's official account videos are not reviewed or endorsed by NerdWallet or representatives of financial institutions affiliated with the reviewed products unless explicitly stated otherwise. Avoid disclosing personal or sensitive information such as bank accounts or phone numbers. NerdWallet employees do not offer personalized financial advice and will not respond to posts here. Connect with NerdWallet: Follow NerdWallet on TikTok:   / nerdwallet   Follow NerdWallet on Instagram:   / nerdwallet   Follow NerdWallet on Twitter:   / nerdwallet   Follow NerdWallet on Facebook:   / nerdwallet   NerdWallet Website: https://nerdwallet.com Closing A Credit Card: When It Makes Financial Sense | NerdWallet    / nerdwallet