If you have an old credit card that you no longer use, you might think that it would make sense to close the account. Under some circumstances, that can actually backfire and hurt your credit score.

Factors That Impact Your Credit Score
Credit scores are based on several factors. Algorithms analyze an individual’s history to figure out how likely that person is to fail to repay debts or to make payments late.

When standup comedian Nathan Brannon moved into his newly purchased home in rural Washington state, it seemed the joke was on him: The previous owner had left the pegboard on the garage wall, but had taken all the pegs.

“When I first saw the pegs were missing, I was super confused; I mean, what are you going to do with just pegs?” Brannon recalls. “Now I have a pile of yard tools on the floor in front of the pegboard.”

“What do I have to leave when I sell my house?”

The offer of a zero-interest credit card can look enticing when it arrives in the mail. Who doesn’t want to avoid paying interest on credit card charges?

As with most things in life, there are pros and cons to using 0-percent credit cards. Here are some facts to consider before you respond to that offer:

Charging too many expenses to your credit card can happen occasionally. It leads to what’s called a maxed out credit card, meaning you’ve gone over or are close to being over your assigned credit limit. 

It doesn’t mean your financial world will come crashing down around you. But it is something to take notice of and deal with. 

Reusing things you use often instead of using them once and then throwing them away will not only benefit the environment, but will save you some cash, too. 

Here are four reusable items that will more than pay for themselves in savings. 

Shopping Bags
A plastic bag has a lifespan of 12 minutes from when it’s initially filled with groceries at the store to when it’s discarded when you get home, according to Reuse This Bag. These bags can take 1,000 years to decompose. 

Did you know student loans are one of the largest forms of debt in America? Paying off college loans is essential to cementing your financial future. To help you successfully navigate the complexities of borrowing, Edvisors.com suggests steering clear of these common repayment mistakes:

Earnest money is the amount of money put down for a large purchase. While this is not limited to real estate, it is used frequently in the real estate industry. It’s a sign of good faith from the buyer to the seller and normally constitutes about 1%-5% of the home’s price.

How much do you deposit?

There is no set amount for how much you can put down in your earnest account. However, the more money you put into these accounts, the more likely you are to be taken seriously by the seller.