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Millennial Money: Issuer closing your credit card? Act fast to preserve credit

KEYT

By MELISSA LAMBARENA of NerdWallet

When a credit card issuer decides to close an account, there may be a narrow window of time in which you can help safeguard your credit scores. You can ask the issuer to reconsider; there’s no guarantee, but there’s also no harm in asking. If the issuer refuses to keep it open, you can apply for a new credit card to help counter the potential negative impacts to your credit scores. Before doing so, research which kinds of credit cards you’re most likely to be approved for. By being strategic, you can help preserve your credit.

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