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How can the closure of a credit card account affect my credit rating?

Posted on June 2, 2010, 10:00 am, by , under 7 Months.

Mike T asked: Chase Visa closed a credit card used exclusively by my wife for exceeding the credit limit for 3 consecutive months. Since it is my credit card (I put her on the card 5 yrs ago), what can I do to minimize the damage which has already occurred to my credit rating.Julia

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How can the closure of a credit card account affect my credit rating?

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