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Question?

New Contributor

Question?

Hi,
 
I wanted to inquire about my credit report.. I have a lot of open store cards as well as low limit credit cards.  Please let me know how to boost my credit score.. I was thinking of closing a few of these, but did not want it to cause my credit score to decrease.  I am waiting for a few to drop off due to 7yrs but will this happen on the exact day??  So when they do drop off and I had a late payment that will vanish too?  So if the card is open, and it has been 7 yrs then I need to close the account in order for it to disappear fm my CR?  Thanks..
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Established Member

Re: Question?

Wow.....that was a lot but not enough vital info Smiley Happy  I'm only talking about my Personal opinion here BUT the store CC need to go but I would wait till your score is in a good place then drop them. (you defiantly should NOT be using them) You mentioned you have CC w/low limits why? As long as your making payments they should raise your CL if that hasn't happened you can call them and get it raised. Which is a big deal since your credit debt ratio would help you in raising your FICO. You kind of through me off by the 7 years drop off question.........well first it should drop off 7 years with in that month that the account first showed up on your CR. The following month you should more a less see a change on your report. What I don't get is the question...... should you close the acc. once it's dropped after 7 years.........if it's an open acc it's open it won't go away in 7 years. It has to be a  delinquent acc which means it has to be closed. From reading on this forum late payments stay for a long time depending on how late they are. Hopefully I helped a little knowing more like how many cards you have and your balance on them tells a lot so i'm kind of limited on any specifics.  GOODLUCK
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