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While you might think it would be a good move to close credit cards you're not using this can actually damage your credit score. In fact, 15% of your credit score is based on your credit history or how long you've had credit. If you have had a credit card for 15 years and close it because you're now using one that you've had for less than a year your credit history will drop from 15 years to less than a year.
A second important component of your credit score is your debt to credit ratio. This is how much credit you have available versus the amount you've used. Let's say you have $10,000 in total credit available and have used $3,000 of it. In this case, your debt to credit ratio would be 30%, which many experts feel would be okay. However, if your ratio were higher than 35% this would have a negative effect on your credit score.
Getting cash advances
If you find yourself short of cash then taking out a cash advance would seem very tempting. But don't do it. These advances are not much better than payday loans. First, there will be a fee ranging from 2% to 4% for just taking the advance. However, that's not the worst part. Your credit card issuer will likely charge you a higher interest rate on this money than on the purchases you make. Plus, that interest will begin accruing immediately. With credit card purchases there is a grace period but this is not true of a cash advance.
Even worse, you may not be allowed to repay that cash advance until you have paid off your traditional credit card debt. This means it would take you longer to pay off your debt because of that cash advance with its higher interest rate.