Financial Magazine » Closing Account http://financialmagz.com All about business and financial news. Mon, 19 Dec 2011 08:33:58 +0000 en hourly 1 http://wordpress.org/?v=3.3 How and why is my credit card affected when I open and close a credit card? http://financialmagz.com/credit-cards/how-and-why-is-my-credit-card-affected-when-i-open-and-close-a-credit-card.html/ http://financialmagz.com/credit-cards/how-and-why-is-my-credit-card-affected-when-i-open-and-close-a-credit-card.html/#comments Fri, 15 Jan 2010 19:48:23 +0000 admin http://financialmagz.com/credit-cards/how-and-why-is-my-credit-card-affected-when-i-open-and-close-a-credit-card.html/
Double Negative asked:

I see a great deal at a store to open up a credit card and get a prize or a rebate. If I want the big discount I open the credit card and then get the discount but I don’t want or need the credit card at all.

Is it better to close down this new card or keep it open with a zero balance? How does opening and closing account affect my credit score?

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