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Deleting Accounts

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Anonymous
Not applicable

Deleting Accounts

I have some credit card accounts on my credit report that I have never used and were closed at my request. Should I have these items deleted from my report? I was in the market to purchase a car earlier this year and the salesperson at the dealership told me that all those closed accounts sitting on my credit drives my score down and makes it look like I have a high debt to income ratio.
Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Deleting Accounts

If there is no negative info on these accounts they are not hurting your FICO score at all. Positive TLs stay on your report for 10 yrs. I would suggest you NOT remove positive TLs.
Message 2 of 8
Anonymous
Not applicable

Re: Deleting Accounts

What your salesperson told you is correct. It always lowers your score when you close an account after you pay it off. It is best to keep them open and just not use them. It shows that you have control of you spending habits. You score is determined by the amount of your total credit compare to the amount that is still available to you.
 
If possible I would call one or two of the credit card companies that you closed and asked them to reopen them and just not use them. Rule of thumb is that don't like to see where you've used more than 30% of your available credit. By having that available credit and not use it it will make your credit score increase.
 
Just don't go and open new credit at a difference company because that would show up as an inquiry and decrease your credit score.
 
Good Luck!
Message 3 of 8
fused
Moderator Emeritus

Re: Deleting Accounts



sigmad48 wrote:
What your salesperson told you is correct. It always lowers your score when you close an account after you pay it off. It is best to keep them open and just not use them. It shows that you have control of you spending habits. You score is determined by the amount of your total credit compare to the amount that is still available to you.
 
If possible I would call one or two of the credit card companies that you closed and asked them to reopen them and just not use them. Rule of thumb is that don't like to see where you've used more than 30% of your available credit. By having that available credit and not use it it will make your credit score increase.
 
Just don't go and open new credit at a difference company because that would show up as an inquiry and decrease your credit score.
 
Good Luck!


Not true! Bamf70 is correct.
 
Message 4 of 8
Anonymous
Not applicable

Re: Deleting Accounts

I have NEVER used the accounts at all. When I received the cards years ago, I just cut them up and told the companies to close the accounts because I didn't apply for them. Does this still affect my credit the same way as if I used them and paid them off?
Message 5 of 8
fused
Moderator Emeritus

Re: Deleting Accounts



In2deep wrote:
I have NEVER used the accounts at all. When I received the cards years ago, I just cut them up and told the companies to close the accounts because I didn't apply for them. Does this still affect my credit the same way as if I used them and paid them off?


Who applied for them?
Message 6 of 8
Anonymous
Not applicable

Re: Deleting Accounts

As these accounts are "inactive" they are not hurting or helping your score.

I would get the cards and put $10 on them.



@Anonymous wrote:
I have NEVER used the accounts at all. When I received the cards years ago, I just cut them up and told the companies to close the accounts because I didn't apply for them. Does this still affect my credit the same way as if I used them and paid them off?



Message 7 of 8
Anonymous
Not applicable

Re: Deleting Accounts

Agreed. Make them active and keep the TLs. It will only help the age of your accounts since these have been around a while.
Message 8 of 8
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