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Closing a personal credit card, in my experience, temporarily drops the score a few points and then it goes back to normal. It's a myth promulgated by banks to
by thallium205 2y ago
Closing a personal credit card, in my experience, temporarily drops the score a few points and then it goes back to normal. It's a myth promulgated by banks to keep accounts open.
- kbolino 2y agoIf so, that just raises the question: of what benefit is it to the banks to keep unused accounts open? The maintenance costs may be low, but they're still nonzero.
- thallium205 2y agoAsk Wells Fargo -> https://www.justice.gov/opa/pr/wells-fargo-agrees-pay-3-billion-resolve-criminal-and-civil-investigations-sales-practices https://www.justice.gov/opa/pr/wells-fargo-agrees-pay-3-bill...
- SoftTalker 2y agoAnd yet if you have a "dormant" checking or savings acccount, many banks will start charging you a monthly fee.