Why Does Your Credit Score Drop After Closing an Account? | 3 Major Reasons

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Why does your credit score drop after closing an account?
Building and maintaining good credit takes time and of course good financial behavior. One thing we all look forward to is to pay off debt and close accounts that no longer serve their purpose.

The disadvantage of closing an account is the fact that the credit score you have worked had to maintain will drop. This video explains the factors that contribute to having a good credit score and why the credit drops after closing an account.

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I am not a financial advisor, a tax advisor, or a CPA. The purpose of each video on my channel is to share my own opinion and for entertainment purposes. Do not take my words as fact so do your due diligence before investing.

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