DREAM HM NEWS




Money Management

Warning: Closing a Credit Card Account Could Affect Your Mortgage Rate

By Sandra Block, USA Today
3/2/2017

If your favorite restaurant dismissed its longtime chef, hired surly waiters, and raised its prices, you would probably stop eating there. That's the beauty of the free-market system: Dissatisfied customers can vote with their feet.

But many consumers who have been treated badly by their credit card companies feel they don't have that option. That's because closing a credit card account, while emotionally satisfying, could hurt your credit score. That, in turn, could raise the cost of getting a mortgage, car loan or even a new credit card.

Read the entire article.



Print Date: 7/16/2018
Using this site means that you agree to our Terms of Use and Privacy Policy. - Copyright © 2018 DREAM HOMES. All rights reserved.
All information is deemed reliable but is not guaranteed and should be independently verified.
Facebook Twitter Instagram