How long does it take? And other things I don't understand...

[SimplisticLee]

I am recently divorced and had my name removed from mortgage loans by my ex refinancing his home. We also closed some joint credit cards which had zero balances anyways...  My question is this: How long does it take before the mortgage and credit card companies update to reflect the balance as zero. Will that have a negative impact on my score?

I took a hit on my credit score by closing one of the credit cards, but really had no other options (as soon as the credit card company found out there was a marital separation or divorce they closed the account).

Just when I thought I was understanding impacts on credit scores- it seems in one case it'll benefit your score and the next time it negatively impacts. Sometimes I just wonder if "they" pull from a hat to decide your fate.

[pizzadude]

Closing credit cards will generally not hurt your FICO score ~ unless by losing the Credit Limit your overall revolving %utilization increases.

Also, paying off a mortgage won't really give you many points;  generally it takes a statement cycle or two for the accounts to be updated on your CR.

[RobertEG]

Do you have any remaining installment credit?  It may impact your mix of credit.

You are correct in that it is hard to predict the results of one action, as an action usually has different impacts on different categories of your scoring.

What helps in one category may hurt in another.

[Anonymous]

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@SimplisticLee wrote:

I am recently divorced and had my name removed from mortgage loans by my ex refinancing his home. We also closed some joint credit cards which had zero balances anyways...  My question is this: How long does it take before the mortgage and credit card companies update to reflect the balance as zero. Will that have a negative impact on my score?

I took a hit on my credit score by closing one of the credit cards, but really had no other options (as soon as the credit card company found out there was a marital separation or divorce they closed the account).

Just when I thought I was understanding impacts on credit scores- it seems in one case it'll benefit your score and the next time it negatively impacts. Sometimes I just wonder if "they" pull from a hat to decide your fate.

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See on your CR explanation what is hurting your score. Try to open the CC with the same lender and try to convince them of backdating the CC this will help you in restorin gth points lost I dont know if that is possible somebody here ight have a better insight.