The Shocking Truth About Canceling Credit Cards (Do This Instead!)

Should You Cancel Your Credit Card? Here’s When & Why**

Canceling a credit card can feel like a smart financial move — but is it really? 🤔 In this video, we uncover the truth about when canceling your credit card makes sense and when it can seriously hurt your credit score. If you’ve ever asked yourself *“Should I close my credit card?”* or *“Will canceling my credit card drop my score?”*, then this guide is for you.

💳 **What You’ll Learn in This Video:**

* When it’s actually a good idea to cancel a credit card
* The hidden downsides of closing your oldest credit card
* How canceling affects your credit utilization ratio and FICO score
* Common mistakes people make before closing accounts
* Alternatives to canceling that can protect your credit score
* Real-life examples of when to keep vs. cancel a card

📈 Whether you’re trying to improve your credit score, avoid unnecessary fees, or simplify your finances, this video will give you the **facts that banks don’t want you to know.**

– Intro: The Big Question – Cancel or Keep?
– How Closing a Card Impacts Your Credit Score
– When Canceling Makes Sense (Annual Fees, Fraud, etc.)
– When NOT to Cancel (Credit History, Utilization)
– Alternatives to Canceling Your Credit Card
– Final Verdict: Should You Cancel or Keep?
– CTA: Subscribe + Comment Your Credit Card Experience

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✅ **Why This Video Matters:**
Most people don’t realize that canceling a credit card can backfire — lowering your score, reducing your available credit, and damaging your history. But in some cases, canceling is the best move (like avoiding high annual fees or risky accounts). This video gives you the **complete strategy** so you can make the right decision.

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💬 **Join the Conversation:**

* Have you ever canceled a credit card?
* Did it hurt or help your score?
Drop your experience in the comments — your story could help someone else!

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⚠️ **Disclaimer:**
This video is for **educational purposes only** and is **not financial advice.** Always do your own research and consider consulting a licensed financial advisor before making credit decisions.

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Видео The Shocking Truth About Canceling Credit Cards (Do This Instead!) канала Genzwealth