Contact 2: Closing Good Credit Accounts

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(KTVI) - You’ve probably heard that closing a credit card can actually damage your credit score. But do you know why?  It all relates to your credit utilization ratio, the amount of credit you've used, compared to the amount you have available; a factor that's about 30 percent of your score.

Don't close an account if it's your only card and if you have others, check the balances.