Why closing old accounts can damage your credit score

If you’re trying to get a handle on your finances and dig your way out of a bad credit score, getting your accounts in order is essential. You need to know what, and where, credit is available to you, but while it might be tempting to pay down and close old accounts, this could actually damage a credit score. Rebuilding your credit score can be difficult, especially if you are starting near rock bottom. You’re stuck in a Catch 22 […]