Reply
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

Re: See ya store cards???


jlfce1 wrote:

LS2982 wrote:

No AF, 0% deals, high CLs (GE). I have a lot of store cards and I would definitely manage them over closing them. They come in handy.


If I leave these open and go to apply for a mortgage next year, it won't look bad? Also, how many open CC's is too many?   I won't be using them and I don't want to manage using them every so often to make movement. I read somewhere on this site that someone's score was lowered because they used a card that had been inactive?

 

My statement just closed on my pament for the last of my cards which once reported will bring my Utilization down to <10%.  It will still have a small balance and  I have a balance on my CFNA card because they offer the 0% for 6 months, so I level the payments into 5 and carry a balance to take advantage of that.  Those are my cards with a balance out of 20 cards total....the rest are at 0.


Your mortgage app should be just fine. Only if the LO requests you to close accounts I would.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Regular Contributor
Posts: 142
Registered: ‎05-16-2013
0

Re: See ya store cards???


LS2982 wrote:

jlfce1 wrote:

LS2982 wrote:

No AF, 0% deals, high CLs (GE). I have a lot of store cards and I would definitely manage them over closing them. They come in handy.


If I leave these open and go to apply for a mortgage next year, it won't look bad? Also, how many open CC's is too many?   I won't be using them and I don't want to manage using them every so often to make movement. I read somewhere on this site that someone's score was lowered because they used a card that had been inactive?

 

My statement just closed on my pament for the last of my cards which once reported will bring my Utilization down to <10%.  It will still have a small balance and  I have a balance on my CFNA card because they offer the 0% for 6 months, so I level the payments into 5 and carry a balance to take advantage of that.  Those are my cards with a balance out of 20 cards total....the rest are at 0.


Your mortgage app should be just fine. Only if the LO requests you to close accounts I would.


Awesome news! Thanks for everyone's time and input!

Amex BCE 24.5K | BofA Cash Rewards 15K | CSP MC 13.5K| Chase Freedom 7.5K | Discover IT 3K

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 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.