Sometimes we end up with unwanted credit cards that we applied for without giving much thought. But getting rid of such cards is not such a simple decision as it has a bearing on your credit score.

People end up with these cards because they apply for many cards at the same time thinking that they will be rejected for a few or it will be quite sometime before they will be approved for them. They are also under the impression that they will have plenty of time later to decide if they really want the card or not. But that really is not the case, as it becomes tricky to get rid of the card without affecting your credit score negatively. [Read more…]