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The responses are the opinions of NerdWallet's editorial writers, based on their experience writing about financial topics and the info you provide. Answers are for general educational purposes only, and not financial advice. Consult a CFP or a financial advisor for more on what is best for you specifically.

What to ask

Our Nerds – writers who have researched and reviewed 1,300+ financial products – will answer questions about:

  • Credit scores

  • Paying down debt

  • Budgeting

  • Saving money

  • Auto, home, and renters insurance terminology and general policy terms

These are the only topics we're addressing at this time.

Help us give you the info you're looking for by filling us in on the specifics. (See the example question below to get an idea of the types of details that are helpful.)

How it works

STEP 1

Ask your money question

Ask the Nerds a money question anytime using the form on this page. It’s one of the perks of your NerdWallet+ membership.

STEP 2

Let the Nerds dive in

One of our writers will respond based on their years of experience researching and writing about personal finance.

STEP 3

Get a reply within 2 days

Get a direct reply from a Nerd within 48 business hours. We’ll contact you at the email you used to register your NerdWallet account.

EXAMPLE QUESTION AND ANSWER

Question

Hi Nerds, What will happen to my credit score if I close a credit card I rarely use? It’s one of two credit cards I have, both with a $10,000 limit. I only use this card once a month to pay a utility bill that’s about $100. My other card has a balance of $3,400. I’m considering closing the card I rarely use because its perks aren’t as good as my other one, which I opened a few months ago, and I no longer want to pay the annual fee. My other forms of credit include a car loan and student loans. I don’t have plans to apply for new credit anytime soon.

Thanks! - Credit Concerned

Answer

Canceling your credit card is likely to cause a dip in your score, mainly because of the effect on your credit utilization (the amount of your credit limits that you’re using). Utilization is one of the biggest influences on scores. Right now, you have a $20,000 limit between the two cards. It sounds like you keep the one paid off, since it’s a small bill each month, but on the other one you’re carrying a $3,400 balance month to month. That’s roughly a 17.5% credit utilization ratio. It’s best for your credit score to keep your utilization below 30%, and you’re well under that now with the two cards — but closing one card will drop your overall limit to $10,000. Then, your $3,400 balance jumps up to a 34% utilization. Other factors to consider: Having a mix of credit cards and loans can help your score, but closing one card may lower the average age of your accounts, which some credit scoring companies factor into their scores. The good news is that as long as you pay off the card before closing it and keep practicing healthy credit behavior your score should rebound over time. But a better option for your score could be asking your issuer to switch to a card with no fees, if it offers one. Changing your card rather than canceling it will not impact your score, as long as the credit limit doesn’t drop.

Meet the Nerds answering your questions

Isabel Contreras Lead Writer | Auto insurance

Isabel is a lead writer at NerdWallet covering auto insurance. She's also got a knack for finding stories buried in data. Previously, Isabel worked as a personal finance writer for Morning Brew’s Money Scoop and as a markets reporter at Forbes, where she covered everything from fintech and crypto to billionaires and IPOs. Isabel earned her bachelor’s degrees in journalism and economics from Boston University, where she fostered a passion for throwing intimidating jargon out the window to make financial topics accessible to all. Read articles by Isabel.

Drew Gula author bio

Drew Gula Lead Writer | Auto insurance

Drew Gula is a NerdWallet authority on auto insurance. He previously worked as the senior content editor at Soundstripe and as the senior writer in Liberty University's marketing department. Drew is also a published author. Read articles by Drew.

Sarah Schlichter Lead Writer | Home insurance, renters insurance, pet insurance

Sarah Schlichter is a NerdWallet authority on homeowners, renters and pet insurance. Prior to joining NerdWallet, she spent more than 15 years in digital media as a writer, editor and spokesperson. Sarah enjoys delving into complicated topics and helping readers understand the ins and outs of their insurance coverage. Read articles by Sarah.

Lauren Schwahn

Lauren Schwahn Lead Writer | Personal finance, debt, credit scoring

Lauren Schwahn is a writer at NerdWallet who covers credit scoring, debt, budgeting and money-saving strategies. She has contributed to the "Millennial Money" column for The Associated Press. Her work has also been featured by USA Today, MSN, The Washington Post and more. Lauren has a bachelor’s degree in history from the University of California, Santa Cruz. Read articles by Lauren

Tommy Tindall

Tommy Tindall Lead Writer | Consumer debt, saving money, gig economy

Tommy Tindall, a writer at NerdWallet since 2021, covers a range of personal finance topics, including side gigs, saving strategies and smart shopping. His work has appeared in The Washington Post and MarketWatch. Tommy previously worked in marketing at Fannie Mae. Read articles by Tommy

Frequently asked questions

Our team of writers will answer questions regarding:

  • Credit scores

  • Paying down debt

  • Budgeting

  • Saving money

  • Auto, home, and renters insurance terminology and general policy terms

We won’t address other topics at this time, but stay tuned for updates.

We won’t be able to answer follow-up questions at this time; however, our Nerds will be as thorough as possible in their responses so that you can get the most out of the answer offered. Be sure to include enough detail so that we can answer your question thoroughly, but do NOT provide personally identifiable information. Check out the example question if you need help starting.

You can expect to receive a reply to the email you registered with within 48 business hours.

At this time, our team of writers are answering only questions regarding:

  • Credit scores

  • Paying down debt

  • Budgeting

  • Saving money

  • Auto, home, and renters insurance terminology and general policy terms

We aren’t addressing other topics at this time, but stay tuned for updates.

A NerdWallet editorial writer will respond based on the knowledge they’ve gained from researching and writing about financial topics, using the information you provide. However, keep in mind that there might be other important factors related to your situation that we are not aware of. The responses are based on general principles and are for educational purposes only; they are not financial advice. For more personalized guidance, it's best to consult a certified financial planner or a financial advisor.

Ask a Nerd makes it easy to learn more about financial topics you care about — on your own time. Our writers are pros at breaking down complex financial topics so they’re easy to understand, and you can rely on them for accurate, unbiased information. Plus, you can submit questions anytime and we’ll get back to you within 2 business days. However, if you want personalized financial advice, it’s best to consult a financial advisor, like the Certified Financial Planners at NerdWallet Advisors.