New Delhi, April 8 -- Closing a credit card might seem like a simple and straightforward financial decision, especially if you are trying to cut down on unnecessary spending or avoid hefty fines and late payment fees.

However, in India, this move can immensely impact your credit score and your overall credit profile in a negative way.

That is why it is important to understand how to properly plan a credit card closure.

Let us take a closer look at how closing a credit card affects your credit score and how to manage credit card closures wisely to protect your credit health in India.

It is important to always remember that your credit utilisation ratio is one of the most critical components of your credit score. This ratio represents h...