Closing a credit card that has a balance?

[Anonymous]

I'm considering closing two credit cards that have balances and then paying on them til they are paid off.  My question is this: how do I do this without negatively affecting my credit score/report? I would want them to state that I voluntarily closed the accounts, not that they were closed because I couldn't pay them.

[gdale6]

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@Anonymous wrote:

I'm considering closing two credit cards that have balances and then paying on them til they are paid off.  My question is this: how do I do this without negatively affecting my credit score/report? I would want them to state that I voluntarily closed the accounts, not that they were closed because I couldn't pay them.

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Typically they still will factor into your Fico with the CLs for utilization but it would be better if you first pay them off then close. Closed accounts remain on file for up to 10 years post close so AAoA isnt immed affected.

[Anonymous]

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@Anonymous wrote:

I'm considering closing two credit cards that have balances and then paying on them til they are paid off.  My question is this: how do I do this without negatively affecting my credit score/report? I would want them to state that I voluntarily closed the accounts, not that they were closed because I couldn't pay them.

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I have 2 that are in that status..they report "closed by consumer" and original CL, and bal owed, payment and "paid as agreed" they show my UTI % as it goes down with payments from original credit limit, they do not show 0 available (both are BoA), from what I see on my CRs they have never moved from "positives" and they certantly haven't hurt me in any type of credit I've gotten since I've closed them (house, 2 refies, 2 vehicles and more CCs).