Asked by Mary  |  Submitted May 22, 2018

How do I go about closing out some of my credit cards? I owe nothing on them and I would like to bring my credit score up even more.

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  Answers  |  1

May 24, 2018

Hello Mary. Congratulations! You've obviously taken care of your credit. Closing old credit card accounts isn't always a good idea, because it will raise your credit utilization ratio and lower the average age of your credit accounts. Both these factors could harm your credit score. Senior Industry Analyst Matt Schulz explains these concepts and how to weigh them up in this exclusive MoneyTips video. You can find more tips in this article.

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