Credit Cards

[BearOSO]

I currently have a USAA Sec CC with a $5000 limit. It will mature this month and I am going to close it and receive my moneys. I have been approved for the unsecured CC with a CL of 5500. Aside from utilization, how will removing the Secured CC affect my report? Will the sudden drop of $5000 or the closing of a two year account with perfect payment history, affect my score/report negatively? If so, how bad?

I am officially off to the garden for a year as I think I have acheived what I needed to and will pursue my "wants" in 2014. 

[Wolf3]

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BearOSO wrote:

I currently have a USAA Sec CC with a $5000 limit. It will mature this month and I am going to close it and receive my moneys. I have been approved for the unsecured CC with a CL of 5500. Aside from utilization, how will removing the Secured CC affect my report? Will the sudden drop of $5000 or the closing of a two year account with perfect payment history, affect my score/report negatively? If so, how bad?

I am officially off to the garden for a year as I think I have acheived what I needed to and will pursue my "wants" in 2014. 

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There is nothing negative about closing an account other than utilization, unless they are your only CCs.   I would not close unless I had at least 3 open CC left.  

[creditnocash]

besides utilization, it wont hurt your reports. 

any account closed in good standing still reports good for 10 years. 

please refer to this link 

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