Thinking about canceling a credit card? Here's what actually happens to your score -- and the step-by-step process to avoid unnecessary damage.

A strong credit score is necessary to show lenders that you are a reliable borrower, and first timers or young customers may ...

Should you cancel unused credit cards or keep them open? We asked financial experts to weigh in on Reddit's feverish debate ...

Watching your credit score dip – especially after completing a financial milestone like paying off your credit card – can ...

Credit cards can be handy when you need to borrow money for a short time. They also help build credit when you pay on time ...

Sometimes, closing the account may be the best move. But before you do, make sure you understand the new benefits, the timing of the changes, and the potential credit score impacts. Many or all of the ...

Image source: Getty Images Canceling a credit card sounds simple -- call the issuer, close the account, done. But depending on which card you close and when, your credit score could take a big hit.