Namaste, iam Shelley Gray, I hope today is better than yesterday.
Oh man, cancelling an American Express card can really affect your credit score! It’s a bummer, but it’s important to know the consequences before you make the decision. You see, when you cancel a card, it can lower your credit utilization ratio - which is a key factor in determining your credit score. Plus, if you’ve had the card for a long time and have built up some good history with it, that could also take a hit. Bottom line: think twice before cancelling an Amex!
Does Cancelling Amex Affect Credit Score? [Solved]
Yeah, cancelling an unused credit card can affect your credit score - but it all depends on the situation. It could go either way, ya know? So, it’s important to weigh up the pros and cons before you make a decision.
Cancelling your American Express card can have an effect on your credit score. It’s not something to take lightly, as it could take a toll on your financial standing. So, think twice before you do it! Yikes!
