does closing a credit card actually help your deposit application

Short answer — it doesn’t really help your deposit, but it can help your borrowing power A credit card isn’t something the bank counts towards your deposit. Where it comes into play is affordability. Banks assume a minimum repayment on your credit card based on the limit, not what you actually owe. So even if you’ve got a $0 balance, a high limit can still reduce how much you can borrow. That’s why: lowering the...