Reply
Regular Contributor
Posts: 209
Registered: ‎01-31-2012
0

HSBC Closed My card

HSBC closed my card after reducing my limit from $2100 to $305, I didnt care for the card and never used it after the CL was reduced. My question is now I am left with NFCU visa card, Capone master card and Target store card. Should I apply for another card to maximize my utilization? my fear is that I plan to apply for a mortgage loan in 2 months. my total credit limit is $11,050 with zero balance. my highest limit is $10,000 from NFCU. thank you for your candid response.


Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
Current Score: EQ: 660,lender pull 4/13, EX: 671 lender pull 4/13, TU: 691 lender pull (4/13)
Goal Score: 700


Take the FICO Fitness Challenge
Moderator
Posts: 13,249
Registered: ‎04-15-2011
0

Re: HSBC Closed My card

Absolutely not!  No inqs, no new credit.  General rule is no apps 6 months out from your mortgage.  Just wait till your mortgage is funded then add a replacement card.



Starting Score: 504




July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
Posts: 670
Registered: ‎09-12-2011
0

Re: HSBC Closed My card

While that HSBC card is closed, it will continue to report for the next 10 years or so.  You have zero balances on your 3 remaining cards, so your UTIL is just fine.  IMO, you don't need a new credit card right now.  Do not app for anything right now - you are too close to beginning the process for a mortgage.  Plant yourself in the garden, at least until after you close on your home purchase and your loan is funded.

 

Good luck!

FICOs: TU08 841 2/9/15 per Barclay; TU98 800 4/8/14; EQ04 769 6/8/14; EQ08 809 3/4/15; EX08 812 3/8/15 per MyFICO

My Wallet: Amex Gold NPSL; Amex Optima Platinum $25K; Amex Costco TE $19.3K; Amex BCE $12K; BofA Visa $10.1K; Cap1 Quicksilver Visa Sig $10K; CSP $28.2K; Chase Freedom $13K; Citi Double Cash $10K; Citi Simplicity Visa $17.3K; Discover IT $24K; Fidelity Amex $25K; PenFed Plat Rewards Visa Sig $20K; Sallie Mae WMC $17.5K; US Bank Cash+ Visa Sig $24.5K; Walmart Discover $10K; Wells Fargo Rewards Visa Sig $14K
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.