While credit cards often get a bad rap, they’re powerful tools that can improve your financial life. Yes, mismanaging them can hurt you, but the upsides to using cards responsibly are terrific.
They help you build credit, rack up rewards and make convenient purchases, which usually outweighs the downsides.
You’ve probably wondered if you should close a credit card. Perhaps you don’t want the temptation to use it or you want to swap it out for a better card. No matter why you’re considering cancelling a card, it’s important to understand how it can affect your finances.
Laura covers why she would think twice about closing five types of credit cards for GoBankingRates.com. Click here to read more.
Read more: How to Pay Lower Interest Rates on Debt
