New Delhi, Sept. 26 -- An unused credit card can seem an unnecessary burden. Especially with its credit-related features and the risk of getting lost, particularly if it is sitting in your wallet, without being used.

Still, it is important to acknowledge that closing a credit card is not always a straightforward financial cleanup. This is because the decision can affect your available credit, i.e., borrowing potential and, in some cases, even harm your credit score.

This write-up is dedicated to discussing the implications of closing your credit card and the important aspects to consider before proceeding with such a move.

This is the primary aspect that needs careful consideration. Credit utilisation, to put it simply, is the percenta...