Episode Synopsis "Effects of Closing Credit Cards"

Americans owe over $900 billion in credit card debt, and credit card interest rates are on the rise – now over 15 percent. So if you’re on a mission to reduce or eliminate your credit card debt (go you!), you may be thinking you should close out your credit cards. However, you need to know that doing that may have several effects, some of which may not be what you’d expect.

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