Thinking of closing your Atlas account?
Here's why you might want to reconsider:
Credit score impact: Closing your Atlas card can ding your credit score.
Credit utilization: Closing your card reduces your available credit, which can increase your credit utilization ratio. A high ratio can lower your score.
Account age: Closing an older account shortens your average account age, which can also negatively impact your score.
Here's how keeping your Atlas account open helps:
Maintains available credit: This helps keep your credit utilization ratio low.
Preserves account age: A longer account history is good for your credit profile.
Our recommendation:
Think twice: Before closing your Atlas account, consider other ways to manage financial challenges.
Keep your credit healthy: Maintaining your Atlas account can help you avoid unintended consequences for your credit score.