I took a shower, really

[Anonymous]

I was just wondering something, at one point 2 years ago I had a Tribute account with 1000, a Salute account with a 1000, and a Christian Community cc with 2000. Last year, first the Tribute " closed" ( they said no longer offering that program. Then Salute ( same thing). This past month, CCCU sent me a letter stating that they would not renew my card and the reason given was "poor credit". OK heres my question, is it me, or are companies closing accounts? My credit is way better now than it was when I got the cards and I NEVER was late ( I haven't been late on any payment for at least 5 years. So wht are they closing? Second, the remaining cards I have have low cl , should I open a secured card? and will that help my score? also, anyone know of a secured card that can go unsecured? Its been a while since I've posted.

[RobertEG]

Hard to say.,  Creditors have their own software that they use to identify what they consider higher-risk accounts.

The CCCU apparently has seen something that concerns them.

Have you consistently been carrying high % utilizations on that card?  What is your current FICO score?

Maybe their qualification standards have changed, or your score has dropped since the card was opened.

Only the CU can identify the specific concern they have.  I would call them.

[Anonymous]

Regretfully, yes. I had the card maxed most of the time. My current score is 647. I have 3 open cards with cls of 250-300. They are at 90%. If I pay down these cards to > 10%, how much could my score go up? My other cc are closed. Does paying them down any faster help my score? thanks

[Anonymous]

Oh and to the other question, my score actually has gone up 50 points since getting the cards

[inthematrix]

Paying them down to 10% would help your utilization %age tremendously, and I believe that counts for something like 30% of your score.

[Carbusys]

The CRAs have a program where credit grantors are automatically notified when something happens or changes on the credit report of their clients. The credit grantors pay a fee for this and not all are signed up for it though. I suggest you apply for a Capital One credit cards, they normally start you off with a $500 cl or you could try a local credit union.

[Anonymous]

Currently my scores are Trans 572, Exper 627 and Equifax 647. I believe I know why Trans is so low ( I have an accont that had a 5000 cl but still shows a balance of 2891 , but its paid off).  I KNOW that paying down my active credit card balances to under 10 % helps the score, but what about paying down CLOSED accounts? Does that help the score? Also, I have a judgement that comes off next year. Does that coming off raise the score? If so , how much ( I know estimate) I have one account that I wish I never got. Don't kill me but I got a loan from Cashcall. The amount was 5000 and 27 months later, the balance is 4910. If I pay that off, again, what can I hope the score will do. Any estimates would help. Thanks

[bigman023]

The balances on the closed accounts still count towards your utilization.  However, the CL's on those card do not apply to your utlization. Therefore, it would be wise to pay them off as soon as your able to do it.

[RobertEG]

Once you pay off a closed account, it is no longer scored in your overall % util.  You lose its CL in your overall % util,, but also elimnate the derog affect its prior high % util was having on your indiv account scoring.  FICO scores both overall and indiv card utils.

Itf the closed and now paid card had a low CL, its affect may be minimal, and maybe even be offset by the separate elimination of its indiv high % util.

It depends as much on what is left as it does on what is closed and gone.

[Anonymous]

OK Now I'm confused. I got my 3 scores last week from " Free score"  Equifax 647, Experian 627 and Trans 571 ( ?)  ( why the big difference I don't know) . Well, had a dealership run credit ( and 2 banks) they said that the banks both pulled 608 from Experian. How did I lose 20 points in 3 days?