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Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
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Re: Advice On Closing Cards..



erchambers wrote:
It seems like a lot of companies will let you slip by with the same score and 6 month old inqs when they might not have at the same score and brand new inqs. I think both Citi and Penfed don't look very hard at inqs over 6 months old. Which makes sense, because any new accounts should show up within that timeframe.


Right--two different issues there: how inqs affect your FICO score, and how inqs affect your chances for new credit.

We've had other members with a load of inqs in the 13-24 month old range. No longer a scoring penalty, but they still display, and they had to explain to new creditors why they had had so many!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Valued Contributor
Posts: 1,291
Registered: ‎02-26-2008
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Re: Advice On Closing Cards..

Well I was just playing devil's advocate wrt that being the way he meant "decay in impact" Smiley Wink
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Established Member
Posts: 10
Registered: ‎03-04-2007
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Re: Advice On Closing Cards..

Ok,

Thanks for the input folks, I appreciate it. Those cards I am considering closing have small CL, yes I know every bit helps.

I think I'll keep them open and use them lightly for now.

It cannot hurt my credit, less I miss a payment Smiley Happy

With the amount of preapps I get per week right now, I'll wait until I get another card with a couple thousand CL on it before cutting out on the smaller cards.

Thanks !
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