3 myths that could tank your credit score

Source: Selena Maranjian, Motley Fool (CNN Money)

Myth No. 1: Closing out credit card accounts will boost your score

Many people assume that if they close out a bunch of credit card accounts, their credit scores will rise. After all, having fewer cards means less possible debt, right? Well, not exactly. Check out the components that determine your FICO score

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