berraco58 wrote:See this is probably the only place where I am willing to ask a question and not even stop to think if I am making a total fool out of myself.
berraco58 wrote:So this is new. Every time I've come across a thread where someone talks about the effects of closing a card and why its such a big no no, they give the impression that average age and length of credit history contribution from a CC stops when they become closed. Just like a closed account stops contributing to your util as far as CL is concerned.I haven't read that the effect is felt not when the card is closed but when it is finally deleted. Until now that is.
Well as for having any baddies with the cards. There were none. I paid the cards off every time I used them and for the last 6 months I did not even use them at all. As for the util I am at 45% because the CRA have not updated any of my balances. For example it shows AMEX with a 4050 balance when actually it has a 900 balance.
Have the same issue with my uti this month caue I slipped and let cards report that I never do. The thing is, if these are monthly fees, and you are not planning on app'ing anything close em. If they are AFs, on the other hand, close em when the fee is about to be asessed. Gives your uti time to reflect true balances