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Cancelling a card? Minimise its impact on your score
Business Standard
|April 11, 2025
Credit cards offer convenience and rewards. But cancelling one due to high fees, limited usage, or to avoid overspending may affect your credit score, despite seeming like a prudent decision.
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Here are some steps to minimise impact on your credit score:
Pay off outstanding balances: Ensure all dues are cleared before initiating cancellation. Unpaid balances will continue to accrue interest and penalties.
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