debtbrak video

Why Closing a Paid Off Card Can Cost You

Name: Why Closing a Paid Off Card Can Cost You
Uploaded: 2026-10-30T10:42:09-07:00
Duration: 4 min 26 s
Description: Brak pays off his card and closes it to stay out of temptation. His total credit limit drops, his utilization doubles, and his truck loan costs more.

Brak pays off his card and closes it to stay out of temptation. His total credit limit drops, his utilization doubles, and his truck loan costs more.

Read the full guide: Should I close a paid-off credit card?

This guide is educational and does not provide individualized financial, legal, tax, or credit advice. Credit decisions and scoring models vary; review the issuer's terms and your circumstances before closing an account.