New Visitor
Posts: 1
Registered: ‎07-12-2007

Closed credit card accounts with a balance

Closed credit card accounts with a balance - would it help my score to reopen the accounts?
Regular Contributor
Posts: 244
Registered: ‎04-16-2007

Re: Closed credit card accounts with a balance

It's possible, as it could bring down your overall utilization.  Since the account is closed, there is no available credit, hence your utilization  [because you still have a balance] is 100%.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+