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Hannaford breach hurts credit scores

In the last year I have had to cancel four credit cards due to security breaches first at TJX and now Hannafords. But while I didn't have to pay for the cards to be reissued, repeated cancellations of cards can have a negative effect on your credit score, according to an expert who spoke on New Hampshire Public Radio this morning.

While the effect of cancelling and reissuing cards is not as important as paying bills on time, it is a factor in determining your credit score, according to the spokesperson.

You can listen in here.

What People Are Saying

Credit cards can be used as

Credit cards can be used as buying power leverage, but you certainly should follow the rules for maintaining good credit. Credit cards are best used when you already have the money for what you intend to buy. You just don't carry cash for safty reasons.

If your hooked on the idea credit cards make a good loan source then you are already mindset for debt. Use your credit wisely and you earn a good credit score !

http://www.your-credit-cards.com