Tuesday, March 2, 2010

Canceling credit cards won't hurt your FICO score



There are plenty of folks out there who would like to cancel their credit cards - maybe they've got too many, or they're not using them - but won't do so for fear of it dinging their credit. We found an insightful look at the elements of how a credit score is calculated on CNNMoney.com today. It goes into how credit cards affect a credit score, and I think it's worth looking at. Here's the article:

http://moremoney.blogs.money.cnn.com/2010/03/02/dont-sweat-it-canceling-a-credit-card-wont-hurt-your-score/

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