Should you cancel an unused credit card?
It might seem counter-intuitive, but sometimes you should keep a credit card, even if you don’t use it. Cancelling credit cards can damage your credit rating.
Aylea Wilkins is a former editor at Bankrate. She previously edited articles on a range of personal finance topics, including insurance, personal loans, home equity loans and student loans.
Aylea has extensive editorial experience covering personal finance, business and marketing. Her career includes time as a copywriter for small businesses to improve their search engine optimization, freelance writing, website editing for small businesses and even an internship at Walt Disney World. Throughout her career, she has focused on helping readers find greater joy in their lives, often through making smart decisions on the road to financial freedom.
Outside of work, Aylea is extremely passionate about children's literature and literacy. She volunteers with reading organizations, keeps tabs on the latest in children's literature and reviews books on Goodreads and NetGalley. She can often be found planning another Disney vacation or working on the young adult novel she hopes to publish.
Living a joyful, fulfilling life is easier achieved when you make smart financial decisions that support who you want to be.
— Aylea Wilkins
It might seem counter-intuitive, but sometimes you should keep a credit card, even if you don’t use it. Cancelling credit cards can damage your credit rating.
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