Does closing a card REALLY hurt your credit history?

Best. Decision. Ever. No Images? Click here   Have you seen our shiny new look online? The redesigned HuffPost Life looks pretty darn good, if I do say so myself, and we’ll keep sending you our best stories about money, living, tech and beyond in this newsletter every Tuesday. If you have feedback — or have topics you’d like us to tackle here or in a story — let me know at janie.campbell@huffpost.com. Thanks so much for reading, subscribing, and helping us be better. Janie   Take back your life There are a ton of myths about credit. But one in particular just won’t seem to go away, especially because even so-called experts keep perpetuating it: Don’t close your oldest credit card because you’ll lose all the positive credit history associated with it. Rod Griffin told us that’s baloney. And as the director of consumer education and awareness at one of the three major credit reporting bureaus, he should know. What closing a card actually does to your credit     Deal with it We’ve all heard financial horror stories from friends who’ve been divorced: A spouse hid money, ruined their credit, left them in debt or otherwise put them through hell at the bank as well as the heart. If you and your spouse are headed for splitsville, attorneys told us there are a few things you should immediately do — including swiftly record and tally all your financial accounts. 5 ways you should prep for divorce, according to lawyers Pro Tip: You check your own credit for signs of identity theft. Did you know your kids need you to do the same for them? Placing a freeze on your child’s credit file can prevent fraudsters who accessed their personal information from using it and creating a huge headache down the road. And as of September 21, placing a freeze for your child is totally free. Here’s how. Want more practical magic? 11 hidden costs of buying a home [HuffPost] Marrying someone with debt? Here’s how to protect yourself [HuffPost] The definitive guide to budgeting for unmarried couples [HuffPost] 4 ways to buy a $0-down home [HuffPost]    .     HuffPost is now a part of Oath and a part of Verizon. On May 25, 2018 we introduced a new Oath Privacy Policy which will explain how your data is used and shared. Learn More. No moon dust. No B.S. Just a completely essential daily guide to achieving the good life. Subscribe here. Like what you see? Share it. Can't get enough? You'll also love HuffPost's Entertainment newsletter. ©2018 HuffPost | 770 Broadway, New York, NY 10003 You are receiving this email because you signed up for updates from HuffPost Feedback | Privacy Policy | Unsubscribe      . - - Preferences  |  Unsubscribe