Closing your credit card when you have a lot of debt is not advisable, for it could actually backfire. Closing your account does not remove it from your report and the debt unless it's paid. It would still appear on your credit report. Another mistake is to move your credit card debt from one card to another. To raise your credit score, you have to pay your debt. But you still need to keep some revolving debt and to keep paying your bills on time. This is necessary to prove that you are a trustworthy borrower. The trick that you need to master is to find the "sweet spot" or the point at which you don't have too much debt and yet can still maintain a good credit score. Now, if you're planning to buy a
house in India, think many times before you do so. Prioritize raising your credit score because it can help you qualify for a lower interest rate, and therefore a lower monthly mortgage payment.
