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How will closing card affect my score

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Anonymous
Not applicable

How will closing card affect my score

Thiking about closing my Cap1 card, can anyone advise if this will affect my scores

 

Current Scores - 761 / 761 / 770 (4 inq on each of them

 

Amex Blue - 10,000 / Current Bal 2,600

Disc More - 9,400 / Current Bal 0

Affinity - 8,000 / Current Bal 0

Cap1 - 5,250 <<-- Wanna Close this one / Current Bal 0

Chase - 3,500 / Current Bal 2,000

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2 REPLIES 2
llecs
Moderator Emeritus

Re: How will closing card affect my score

Check out fused's Closing Credit Cards

 

BTW, if those three scores are from the same source (other than from a lender), then they aren't FICO scores. The link above discusses impact on FICO scoring. I wouldn't know how it impacts non-FICO scores.

Message 2 of 3
Anonymous
Not applicable

Re: How will closing card affect my score

You'll want to watch for utilization issues because you're carrying balances.

Right now you're at 13% utilization (if my early AM math is right - you seriously want to do this yourself - cuz I can't guarantee any degree of accuracy Smiley Wink )

Closing the Cap One puts you at 15% utilization.  That may not have much of a FICO score impact.

 

You may, however, want to consider getting your balances below 9% overall before closing any available CL.

Chase, in particular is at 57% utilization - which is definitely dinging your FICO score.

 

And, of course, this post: Closing Credit Cards has much useful info.

 

Hope that's helpful.

 

ETA:  llecs is far more wide awake than I am, and a faster typer to boot.

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