Can Closing Accounts and High Balances Hurt Your Credit Score?

Maintaining stable credit is crucial for a healthy credit score. Closing accounts or carrying unusually high balances can negatively impact your score. As a former credit union executive, I valued stability in borrowers, and scoring models reflect this. High-risk borrowers often face higher interest rates due to risk-based lending. Keep your credit steady to avoid extra costs and ensure favorable loan terms. #CreditScore #FinancialStability #RiskBasedLending #SmartCreditManagement