Think Twice Before You Close a Credit Card
by Rivan V. Stinson
Jun 18, 2021
2 minutes
Paying off high-interest credit card debt is an important step toward financial freedom, and Americans have taken this standard personal finance advice to heart. According to data from the Federal Reserve, revolving credit balances (primarily credit card debt) dropped more than 11% from 2019 to 2020. Analysts believe the decline stems from a combination of spending cutbacks during the pandemic
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