Many people make a HUGE mistake with credit because it seems like it would be a good thing but it really is a BAD thing…like really bad. People that don’t have credit problems even make this mistake.
Hi, it’s Bethany again and my friends are saying if I were to buy a house, I’d have to close all my credit card accounts. Can you help me out?
Hi there, Bethany, it’s Stephanie Carter of the Monarch team at Keller Williams and that’s actually a common misconception. But closing a credit account adversely affects your credit score. It actually makes it go down so we definitely recommend that you do not close any accounts. We can give you some guidelines to help you through that process and help you with improving your credit score if you need some help so just let us know. And if you have any questions, tips or tricks, just give us a call. Have a great day.