my score will drop 100 points.

[Anonymous]

Yes- Expect 50 to 150 points

IMO- the best way to avoid AA is to not have balances-

You also need to look at the terms and conditions of your credors-

Many have change to only AA if you mess up with them-

What actions can your other creditors take?

Close account, Raise APR's, reduce cl's.

If you don't have balanes- what gain do any of these actions do to help the bank with their risks?  NONE-

APR's don't matter if you PIF- and you almost alway have the option to close the account instead of paying the higher balance.  

If the close the account- they have lost a revenue stream

Lower the CL- if you balances are low it won't hurt your score  

Even in the 600's you are not going stright to heck-

You might actually do very well- how many people with 1 major derog have perfect payment history's?  VERY few- you should be towards the top of this credit group and even if some of your creditors take some AA- you have been smart enough not to have all your credit eggs in one basket.

I have seen a domino effect on a persons credit - where the accounts get closed by the CCC's one by one- but even they did not have them all closed or all rate jack.

IMO- you will be fine and you will recover- if you have that great of a relationship with the bank- ask them to quit reporting it at all?

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slickwithnomoney wrote:

This was for an investment property; my bank is being real nice to me. I won't be in the market to buy a house for a long time; I'm quite happy in my primary home.  No lates and I'm about under 10% balance on all my credit cards.

No one has answered my question when my credit card companies will see my score drop 100 points, will they close my accounts? Should I call them to be proactive?

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[Uniqua]

No one here can tell you if your creditors will close your accounts as no one here knows (unless they are one of your creditors). They are just giving you as much information as they can. Timothy's explanation should help you though. The actual drop in score is within a range and you won't actually know what it is until it drops. If your CCs stay open and you continue to PIF, you should see your scores begin to rise again in a few months.

[Anonymous]

No one can give you an answer because banks act wildly different from one another in this area. What I can offer, as a law of average, is that your PIF revolving accounts with a FICO score in the mid/lower 600s probably won't see you loose too much of your revolving credit purchasing power.