ilovepizza wrote:
Ok. So I am sitting here thinking about this statement. True. If you close a card it is still on your credit report for 10 years. Why would closing an account change anything.
But. What if you closed the account and got the creditor to remove all trace of the account from your CR? Maybe an account that is hurting your score can effect things if you removed the tradeline?
I don't know, just throwing this out. It can also backfire if the account was helping your score.
This is an interesting subject and is often misunderstood.
1.) Closing any revolving TL can lower your scores if your utilization increases. Example, you have 5 CCs with a total CL of 20K and total balances of 5K that is util of 25%. not so great either. Let's say you close one of your cards with an 8K CL and balances remain the same. What you have now is a total CL on your cards of 12K and balances of 5K with util at 42%, worse. If your util is not effected by closing the accounts and they remain positive, your scores should NOT get dinged
2.) No reason on earth to try and delete a closed positive TL, CC or not. Positve closed TLs have the same positive impact on your scores just as open ones do.
3.) yes removing, not closing, anything negative is good.
