Closing a line of credit can affect your credit score in three ways:
It shortens your credit history, making you look less reliable to lenders.
It reduces the variety of accounts in your credit history, which can affect your credit mix.
It increases your credit utilization rate, as you'll have less credit available. This can lower your credit score.
Improving your credit score takes time and patience. But don't worry, that’s why you get Financial Coaching as part of your bundle!