@Anonymous wrote:
@gdale6 wrote:
@Anonymous wrote:
@gdale6 wrote:Close it you only want to have AU to get you started you are well off now with your own cards.
Thanks gdale. Will do it now. Shall I remove all my AU cards? Or shall I only receive this BCP? My other AU cards are 10+ so its a buffer for my CR.
Thats up to you, I might close 1 or 2 a month so its not so big a shock you want to have at least one of your own cards at 6 months so you make sure to keep generating a Fico score but as I said previously you only want AUs to help you get started unless of course some of them are business purpose AU cards.
Sorry, I meant 10+ years of credit history.
I supposed I'll close another next month, however I still want to maintain that buffer for my score. Comenity still hasn't reported AU for me Lexus Visa.
Oh ok. Some of them will remain on file for up to 10 years post close and just have notiations of relationship terminated on them as long as you dont dispute them.
@Anonymous wrote:
@gdale6 wrote:
@Anonymous wrote:
@gdale6 wrote:
@Anonymous wrote:
@gdale6 wrote:Close it you only want to have AU to get you started you are well off now with your own cards.
Thanks gdale. Will do it now. Shall I remove all my AU cards? Or shall I only receive this BCP? My other AU cards are 10+ so its a buffer for my CR.
Thats up to you, I might close 1 or 2 a month so its not so big a shock you want to have at least one of your own cards at 6 months so you make sure to keep generating a Fico score but as I said previously you only want AUs to help you get started unless of course some of them are business purpose AU cards.
Sorry, I meant 10+ years of credit history.
I supposed I'll close another next month, however I still want to maintain that buffer for my score. Comenity still hasn't reported AU for me Lexus Visa.
Oh ok. Some of them will remain on file for up to 10 years post close and just have notiations of relationship terminated on them as long as you dont dispute them.
Hello gdale, just had one more question.
Why did you say "some"? And is the general rule that they will stay on for 10 years? (do you have a link for this)
Will their CL still help my utilization rate, or will that be gone too?
Thanks!
I said some as there are creditors who will totally remove the AU line from ones report upon termination of the AU relationship. There have been reports of this in threads. As far as staying on for 10 years post termination they too follow the same rules that positive closed OC accounts do and that is they stick around for up to 10 years post close. Once the relationship is terminated they have the same effect of closing one of your own cards on Fico scoring.