NerdWallet: This is what happens to your credit score when you ditch credit cards

This article is reprinted by permission from NerdWallet.

Maybe you’ve been ordering too much stuff on Amazon or watching your bank account shrink after spring break travel.

When your spending spins out of control, one way to rejuvenate your finances is to go on a financial fast. But while chopping up your credit cards may feel cleansing, you might be surprised at what it could do to your credit score.

Here’s how to think about whether to cut them up, or simply cut back.

Cutting up your cards but not closing them

If you stop using your cards — whether you dice them up or put them in the freezer — but keep the credit accounts open, your score will go up, says John Ulzheimer, a credit expert who has worked for credit bureau Equifax EFX, -0.67% and credit scoring company FICO.

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