@pizzadude wrote:
Closing CCs won't hurt your AAoA ~ closed cards report For 10 years from the date closed and are counted in AAoA just like open cards.
The main issue with closing CCs is utilization, as you described above. Perhaps you could get a CLI from NFCU to offset closing one of the FP cards. Their fees are exorbitant and I would try to get rid of them as soon as you can.
They gave me a 1k cli for some reason last month went from 6k to 7k. Ive never been late with them or anything. Im guessing they did the hight Util% on the card had something to do with the small CLI
Starting Score: 589 / TU: 600
@tonyaether wrote:You can most certainly report zero but it takes effort. What they do is add your monthly fee when the statement drops so you can't pay it in advance online. However, if you push a payment through your bank or pay by check when your account is on zero before the statement drops, you can report zero. Believe me, I know. I called and was told the same thing before. That worked for me for 6 months until I gave them the axe about a week ago.
Im not sure what you mean by " However, if you push a payment through your bank or pay by check when your account is on zero before the statement drops, you can report zero" ????
Doesn't the OP want to axe both FP cards or just one?
@tonyaether wrote:Doesn't the OP want to axe both FP cards or just one?
I would love to axe one or both if I could. Again im just worried because Im trying to push my score to 700 or past as fast as I can. And with a score of 681 and having the Util% I have now im guessing that would be a great way to boost scores incase we try and purchace a home, as well as get rid of FP
This is the only way I could report zero....
My payment was due on the 16th. My statement dropped on the 19th or 20th. I would have to either mail a check on or around the 10th or use the bill pay system through my bank to report a negative balance of the monthly fee (at the time $6) until the statement dropped. When the statement dropped and they kicked in the monthly (edited) fee it cancelled out the credit and reported zero. That is the only way it worked. Otherwise they reported the balance every month when the statement dropped. They will not allow you to prepay electronically through their system or by phone.
***Basically you have to pay the fee in advance by check or through your checking account's bill pay. It will show as a credit on your FP card until they apply that monthly fee at statement closing***
@FrugalRican wrote:
@tonyaether wrote:Doesn't the OP want to axe both FP cards or just one?
He's worried about the AAOA.I was just trying to give an example of what closing at least one would do, which is virtually nothing. The difference between 66 and 68% is negligible.
I'd be a LOT more worried about the NFCU utilization than the FP closings, by far.
Ah ok....I gotcha. I think you're right on the other balance. It may pay to reduce the NFCU account first.
I hate them too. They got me with the 7.00 fee as well. I didnt pay it and they harrassed me like hell. i totally forgot as i didnt use the card and thought my balance was zero....
I am going to drop them like a bad habit....eff them and their monthly fees. I just got a BofA credit card with a 900.00 limit plus 3 cap1's with 500.00
They are not the only ones getting AX'd