Credit Avoidance is NOT Credit Responsibility

John Ulzheimer, President of Consumer Education for Credit.com, appeared on Fox Business this week to explain how canceling credit cards can hurt your credit scores. The interview gives a great visual explanation of how closing one credit card account can impact your total revolving utilization and lower your scores.

John also goes into detail on why avoiding credit is a bad idea and how the best strategy for managing credit and credit cards is to learn how to manage and leverage them responsibly. Watch the clip: