New Member
Posts: 4
Registered: ‎07-25-2007

Commercial Lending --Beneficial should I close this account?

I have an open line of credit (be it at 24%) at Beneficial. It has a limit of $19,200. I payed it off last November. Since then a $0 balance. Should I close this? I know that FICO doesn't like commercial lenders (either do I) when scoring, but I fear by closing it, My availble credit will obviously drop too.
I have a Wells Fargo Visa with a $5,300 limit. A Capital One with a $2,000 limit. I have no balances on  those cards.
By closing this open line of credit, will it hurt my score or help my score? My FICO's range from 596 to 640.

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+