06-07-2012 09:57 PM
It was one of my secured cards with a 600 cl and about to turn a year old. I didn't think it would have an affect on my score at all but it actually increased it by 8 points!
I am happy to be on my way back to where I was before the mini app spreewhich was 804. All accounts are reporting a zero balance and I am staying in the garden for a couple of years. I will focus on building business credit during that time
06-07-2012 10:52 PM
Congrats, I think I'm in the same boat no more credit cards for me and my main goal is to now pay off my truck and my car. I still hope I see 800 by the end of the year though.
06-08-2012 05:43 AM
TY! My score had initially decreased with each cc inq and with each new card that was opened. I have the exact same balances with all of them as before and I figured
all of the damage had been reported, including my AAoA being reduced by 4 yrs. It was holding steady at 773 after all my abuse and so I decided it was time to
close that card and a few weeks later I get the SW report concerning the accout closure and score increase. So I figured it helped. How can you or I know for certain that it didn't? whether it did or not I"m doing the happy dance in my garden with all my pretty new buds of promise.
06-08-2012 09:03 AM
well, considering you closed to card so close to the 1 year date, the account aging past 1 year and the inquiry reaching 1 year are also things that could definitely have impacted your score recently.
06-08-2012 12:57 PM
Unlikely closing the card had anything to do with it but +1 on the score increase.
If the card had a balance and is now reporting as 0 then that could explain the score increase.
06-08-2012 02:15 PM
That card was barely used and I kept a 0 balance on it. I didn't consider the age of the account or the inquiry but now that I think of it, several inquiries were at least a year old ..you guys are on it! I have to admit that before I found this board, I simply pulled my cr every year to make sure everything was dropping off as it should. There wasn't a lot of baddies but enough to get denials and crappy offers for credit cards that take advantage of people with not so good records. I didn't even bother with checking my score until I came here. *looking around* I kinda like it here
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.