Closing Credit Cards

Oftentimes, people attribute their extravagant spending habits to the easy availability of True, most of us tend to spend because we have ready credit at hand. So, naturally when it comes to curbing our expenses, credit card is the first to go. People think that by closing credit cards, they will be able to control their spending habits. Besides, people are often advised to close their credit cards in an attempt to improve their credit scores. However, closing credit cards with balances is the biggest credit mistake you can commit. Let us see the various implications of canceling credit cards in this article.