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Established Member
hanniss
Posts: 22
Registered: ‎10-20-2007
0

will closing account help score?

Hello All!
 
Great forum!
 
I have 9 credit cards and other non-revolving debt.  Average CL is around $5000 on credit cards.  Average age of card is four years.  I opened an Orchard Bank cc six months ago.  CL is $300.  If I close this account, will it increase my score?
 
Thanks much, Hanniss
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
0

Re: will closing account help score?

Nope-unless it will affect your UTL balances/CL's
Good news is won't decrease it either.

Welcome to my 9 credit cards/ 4 year avg TL

This question sounds familiar-

group.

hanniss wrote:
Hello All!
Great forum!
I have 9 credit cards and other non-revolving debt. Average CL is around $5000 on credit cards. Average age of card is four years. I opened an Orchard Bank cc six months ago. CL is $300. If I close this account, will it increase my score?
Thanks much, Hanniss



Regular Contributor
Cooneyca
Posts: 140
Registered: ‎08-10-2007
0

Re: will closing account help score?

One side bar to Timothy's answer, make sure if you close any CC that the balance is already at 0.  It does hurt to close accounts which still have balances on them
 
Carol
Jan 07: tu 498, ex 501, eq 504
Oct 07: tu 716, ex 712, eq 723
Nov 07: tu 693, ex 664, eq 672_post app frenzy

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