Many times when people decide they need to simplify their finances, one of the first things they consider is closing one or more credit card accounts. If you have a wallet full of credit cards, and you have balances on more than one of them, it can be extremely difficult to keep track of all of the different monthly due dates and payments.
If you have multiple credit cards and there are some you don't use, this poses a higher risk for fraud since there is a good chance you might not bother opening some credit card statements when they arrive. After all, what would you need to look at it if you know you haven't used the card, right? The truth is, if you aren't keeping a close eye on your credit card statements, you can become a victim of credit card or identity fraud
that goes undetected for quite some time.
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