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CAN CANCELLING A CREDIT CARD AFFECT YOUR CREDIT SCORE?

Tuesday Jan 23rd, 2024

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Yes, it can affect Credit Utilization as well as Credit History.  Credit utilization measures how much is owed relative to the total credit limit. Low credit utilization suggests a borrower is not over-leveraged and can keep up with payments. Cancelling a credit card causes the total credit limit to decrease and may cause the reported credit utilization ratio to rise. That could negatively affect your credit score. The impact on the credit utilization ratio is usually more... [read more]

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FUAD ABASOV

FUAD ABASOV

Broker, ABR, SRS, RENE, E-PRO

Right At Home Realty, Brokerage

Award-Winning Real Estate Broker Team providing an elite service helping people within community.

1550 16th Avenue. Bldg B Unit 3, Richmond Hill, ON, L4B 3K9

sold@fuadhomes.com

(647) 801-3401

(905) 695-7888

(905) 695-0900
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Listing Data were last updated: 2024-12-27 02:54:00

Listing Objects were last updated: 2024-12-23T14:39:56.591399Z

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