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How much does your credit score drop if you close a card?

Whether closing an account will help or hurt your score depends on what the rest of your credit history looks like. If you have too many open credit card accounts, it is possible that closing an account could help your scores rather than hurt them. On the other hand, closing an account can cause your overall utilization rate to increase, especially if the account you are closing has a substantial credit limit and you are carrying balances on other accounts. That increase could hurt your credit scores.

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Scoped on: 03/29/2016

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