Why Closing Credit Card Can Hurt Credit Scores- TheCreditpros

Closing a credit card can harm your credit score due to its impact on your credit utilization ratio, despite not affecting the age of your credit history. It's a common myth that closing a card boosts your score. Closed accounts remain on credit reports and contribute to the average age of accounts, but removing available credit increases utilization ratios. Only close a card if necessary, as it can negatively affect credit scores.