You'll typically forfeit unused rewards when closing a credit card account. You can preserve your rewards value by ...

Before closing a credit card account, consider keeping it open if it has no annual fees or high interest rates to maintain a good credit utilization ratio. Settle any outstanding balances and cancel ...

Kelly-Ann Franklin has spent more than two decades in journalism which has helped her build a wide knowledge base of business and personal finance topics. Her goal with editing is to ensure tough ...

Many credit card holders assume that a no-annual-fee credit card can remain open indefinitely, even if it sits unused for long stretches of time. In practice, that assumption can be costly. Last month ...

This is the biggest short-term risk. Credit utilization accounts for up to 30% of your FICO® Score. You want to keep this number low, but it can jump overnight when you close an account. Credit ...

Americans are having a harder time paying their credit card bills. Recent data from the Fed shows that credit card delinquency rates have reached the highest level since 2012. When people can't pay ...

Let's say you've got a credit card with a $15,000 limit that you haven't used in years. You're tempted to shut it down to simplify your wallet -- and hey, no harm done, right? Not so fast. As someone ...

If your credit card is closed, here's why that might have happened and what to do next.

Image source: Getty Images Canceling a credit card sounds simple -- call the issuer, close the account, done. But depending on which card you close and when, your credit score could take a big hit.