01.21.22 Clark Answers His Critics on Clark Stinks / Dealerships Vs. the Free Market Sale of Vehicles.
The Clark Howard Podcast
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Secured Credit Card - Should I Close My Secured Card?
An audience member asked if they should close a secured credit card as they now have some better unsecured cards. Since this person had a secured card, that means their rebuilding their credit along with having a low pico credit score. By closing it, their score will drop, hurting them in the near term. If they need credit, they may have to possibly pay a higher interest rate, or maybe not even qualify for a new loan.
Play episode from 03:29
Transcript
