cancel
Showing results for 
Search instead for 
Did you mean: 

Closing Credit Card Accounts

tag
Anonymous
Not applicable

Re: Closing Credit Card Accounts

Thanks Sandibeach22 Smiley Wink  I am thinking it really is the best way for me to go at this point. Seeing you stats in your siggy give me hope!

Message 11 of 20
AverageJoesCredit
Legendary Contributor

Re: Closing Credit Card Accounts

Best of luck on your rebuild Navymom!! We will get there one day with time and patienceSmiley Happy Go Navy!! Smiley Happy
Message 12 of 20
elim
Senior Contributor

Re: Closing Credit Card Accounts

close the garbage builders, pay down the debt, and get a couple cards with limits/apr's that suit your needs.  it's the next step.

Message 13 of 20
Anonymous
Not applicable

Re: Closing Credit Card Accounts

Congratulations on your rebuild progress! I second the issue with utilization, wait until you pay down your balances as others have said before you close the cards.

 

Utilization is a very important part of a credit report from what I have learned.

 

You will succeed! You have a whole community cheering for you!

Message 14 of 20
Anonymous
Not applicable

Re: Closing Credit Card Accounts

Thanks AverageJoesCredit!  I am learning to be patient with process, it sure takes alot of it lol

Message 15 of 20
Anonymous
Not applicable

Re: Closing Credit Card Accounts

Thank you so much depdep8! 

Message 16 of 20
elim
Senior Contributor

Re: Closing Credit Card Accounts

Run a spreadsheet to track your pay down. When you get to the point (and it will come) when you are at 0%, practice paying in full. This may take additional income, and may look different from member to member. You may see your cards paid off every month (best to earn rewards)... or every few months when times are tight,  just as long as you stay out of debt.

 

Building a spreadsheet will fill your time during your credit's growth and motivate you to perfect your utilization.

 

here's one you can copy and change to make your own.

Message 17 of 20
Anonymous
Not applicable

Re: Closing Credit Card Accounts

Thanks Elim for all  your advice. I had set up a spreadsheet once I found myFico and read through hours of threads lol  Just got to work now on paying down the Capital One cards.

Message 18 of 20
Anonymous
Not applicable

Re: Closing Credit Card Accounts

Great spread sheet..... 

 

where can i find the exact one on Excel?... I tried to copy and edit but it doesnt work that well for me....lol Thanks

Message 19 of 20
elim
Senior Contributor

Re: Closing Credit Card Accounts


@Anonymous wrote:

Great spread sheet..... 

 

where can i find the exact one on Excel?... I tried to copy and edit but it doesnt work that well for me....lol Thanks


  While in Google Sheets, Click "file"/"Downloas As... Microsoft Excell".  I think you lose some charts.

Message 20 of 20
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.