Title:

Getting Rid of Cards or Not

Description:

The recession certainly handed people some difficult times regarding the ability to use and pay back revolving credit accounts and in tightening belts it's started to become common practice to stop using credit cards for bad credit in favor of simply closing the accounts. It's important to remember that it's a good idea to leave at least a few credit accounts open because having no active credit at all can actually hurt a person who wants to apply for something like a vehicle or a get a mortgage for a home. Although a person might not want to use their credit cards frequently, it's helpful to keep accounts open.