What to know BEFORE cancelling credit #personalfinance #creditcard #debtfree #biggerpockets

Summary

The video discusses the implications of canceling credit cards on your credit score. It advises checking for alternatives such as waiving annual fees or downgrading to a card without fees. It also suggests if you are going to cancel a card, cancel the newest one first. The video also emphasizes to keep your credit utilization under 30% and to only cancel one card at a time.