2684: Should You Cancel Your Credit Card After Paying It Off by Kumiko of The Budget Mom on Frugality
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.\nEpisode 2684:\nKumiko of TheBudgetMom.com tackles the common dilemma of whether to close a credit card after paying it off. She weighs the pros, like avoiding temptation and minimizing fees, against the cons, such as the potential negative impact on your credit score. Her conclusion is nuanced, advocating for keeping the account open under certain conditions, especially when planning significant financial moves like buying a house.\nRead along with the original article(s) here: https://www.thebudgetmom.com/should-you-cancel-your-credit-card-after-paying-it-off/\nQuotes to ponder:\n"The number one reason most people choose to close their credit cards is to avoid temptation."\n"If your credit card is charging you fees, you should think about closing it."\n"Closing a credit card account can hurt you if you are attempting to get a mortgage."\nLearn more about your ad choices. Visit megaphone.fm/adchoices