9) Don’t Close Accounts
It’s understandable you may want to close an account once the balance is paid off in order to remove the temptation of using it again. While it may be tempting to cut up a credit card, don’t do it! Keep in open. This may seem counter-intuitive but closing a credit card account reflects poorly on your overall score. Even if your balance is at zero, it’s better for you to keep the account active. Why? Because it will contribute to the “age” of your credit history. The length of your credit history is a factor that goes into your overall score. Usually 5 years is a good average age for a credit history. If you’ve maintained good credit in those 5 years then it will likely be reflected in your score. Keep those accounts open!
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