MoC

Closing a credit card account affects your utilization ratio immediately, as the credit limit of the closed account is removed from the FICO equation, provided there’s no outstanding balance on the card. Over time, the closed account will also disappear from your credit history, potentially affecting the average age and length of your credit history … Read more

Following the Federal Reserve’s recent decision to lower interest rates, credit card holders across the country celebrated an anticipated reduction in their card interest rates. However, keep in mind a factor many cardholders might overlook: the interest rate floor. An interest rate floor is a pre-established minimum rate set by card issuers, below which your … Read more