The decision to cancel a credit card may be based on the desire to avoid excessive spending or if the terms of the card, such as annual fees or a high interest rate, are no longer attractive. While credit cards aren’t evil, they can be very dangerous. You need to be careful with the way you wield credit. If you’re not careful, you could do some real damage to your credit standing. Be aware that cancelling a credit card may actually hurt your credit score. Part of your score is... [read more]