http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1626910#M66656 <p>Wouldln't raise it.  It would just lower your available credit and raise your util and drop your score.</p> Fri, 05 Oct 2012 14:24:44 GMT Shogun 2012-10-05T14:24:44Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1626730#M66650 <p>A year ago I bough a new-to-me home and last spring I went looking for a small tractor. I was given 10% off if I got a Home Depot card. Well, they only gave me $500 limit and since then my score has gone from 727 to 698 becuase I have 'too many low limit cards', too many as in 2 with $500, the other being a Target card and Target is not increasing limits. Target is a card I've had for 7 years so I don't want to lose it.</p><p> </p><p>I also noted that the Home Depot card was listed as a 'finance company' negative by Equifax. Hmmm, Citibank is a finance company????</p><p> </p><p>I have a zero balance on this card and was wondering if I closed it would I get my lost points back?</p><p> </p><p>My overall CC util stays between 15-20% with 1/2 having no balances and I would be losing a card with only 7 months history on it so my average card age would actually increase, wouldn't it?</p><p> </p><p>Thanks in advance for any words of wisdom.</p> Fri, 05 Oct 2012 13:07:59 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1626730#M66650 copprtop99 2012-10-05T13:07:59Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1626910#M66656 <p>Wouldln't raise it.  It would just lower your available credit and raise your util and drop your score.</p> Fri, 05 Oct 2012 14:24:44 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1626910#M66656 Shogun 2012-10-05T14:24:44Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1626958#M66658 <p>The damage was done a year ago.</p><p> </p><p>Best to keep it since it will start helping you soon if it hasn't already.</p><p> </p><p>I started seeing that &quot;finance company&quot; notation on some reports for HD around a year ago. My limit at HD is $13,500. It doesn't seem to do much damage and I'm assuming it will eventually get fixed. I am sure anyone looking at the report knows a HD card is a normal store card, not as 'good' as a regular CC but not consumer finance either.</p> Fri, 05 Oct 2012 14:47:03 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1626958#M66658 GregB 2012-10-05T14:47:03Z http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1635004#M66772 <p>Have you asked for a CLI from them?  Do you use the card and PIF?  if you have regularly used and paid you should be due a CLI.</p> Wed, 10 Oct 2012 05:14:05 GMT http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/New-Card-Causes-Score-Loss-Can-I-Close-the-Account-and-Get-Those/m-p/1635004#M66772 Booner72 2012-10-10T05:14:05Z