Posts Categorized: Credit and Debt

We frequently see married credit counseling clients who come to us by themselves and do not want their spouses to find out about their debts.

Either one partner has secretly been using credit cards without his/her spouse’s knowledge and has gotten in too deep, or one person in the relationship is responsible for managing all of the family’s finances and, having failed to keep debt under control, doesn’t want anyone to find out.

Do you want to close a credit card account but are unsure how it will affect your credit score? There are many reasons why we may want to close a credit card, such as avoiding annual fees, too many fees, high interest rates, or unsatisfactory customer service. Whatever the reason, please review the following to determine what is best for you:

The Fair Isaac Corporation FICO™ states “They would never recommend closing a credit card for the sole purpose of raising the score.”