BadNewsRef wroteI will cancel the account next summer.
Not a great idea.
Canceling credit cards can have an negative impact on your credit score. This could adversely affect the interest rate you're offered if you apply for a loan, but everybody already knows that. What most people don't know is that a low credit score can adversely affect your auto insurance, and home insurance, premiums. Cell phone companies also check credit scores before offering you a contract. Most importantly, employers sometimes look at credit scores as another way that they can pick the most qualified applicants.
I learned this from my accountants, Dewey, Cheatem, and Howe. That reminds me. I should pay them a holiday visit. I wonder what the visiting hours at the state prison are on Thanksgiving?
