Hi everybody, I have a question that I still am not sure about the answer. If you close out credit cards does it negatively affect your fico score? I await some responses before I decide. Thanx!
The only way it will effect your FICO is if the available credit lines will impact your current utilization percentages... The TLs Hx will stay on your report for at least 10 yrs if it is not being reported as derogatory.
If you need the available limits to keep your utilization low, than it can hurt.