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Moderator Emeritus
fused
Posts: 16,355
Registered: ‎03-12-2007
0

Re: Should I Cancel paid off credit cards?

If your just changing banks and not applying for new credit, no change in your scores will occur.
Credit Profile -
FICO 08 Scores (08-22-2014): EQ 820, EX 817, TU 815
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

New Member
Sasha
Posts: 15
Registered: ‎05-24-2007
0

Re: Should I Cancel paid off credit cards?

What if the "new" bank offers me a credit card? what will happen to my score?
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: Should I Cancel paid off credit cards?



Sasha wrote:
Hey! I have one last question and I promise to leave you alone after:smileytongue:


Please DON"T leave us alone  :smileysad:
 
As I see it, this is a place where we can all learn, and those who have learned the hard way can try and help others to NOT fall into the pits out of which they have just dug themselves  :smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: Should I Cancel paid off credit cards?



Sasha wrote:
What if the "new" bank offers me a credit card? what will happen to my score?


They might make an enquiry - minor hit on your score.
 
You total availble credit would go up - minor plus on your score
 
Your average account age would go down - minor hit on your score
 
You would have opened a new account - minor hit on your score
 
So it all depends where you are now in terms of score, and what you want out of life  :smileyhappy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Moderator Emeritus
fused
Posts: 16,355
Registered: ‎03-12-2007
0

Re: Should I Cancel paid off credit cards?



Sasha wrote:
What if the "new" bank offers me a credit card? what will happen to my score?


Do you need the credit card?  If so, then your scores are likely to change if you apply.
 
Do you know your thee FICO scores (not Fako)?
 
What accounts are reporting on your reports?
 
Do you have cc's?  What are the credit limits and balances on each?
 
Any loans, mortgages, etc.?
 
How many inquiries are being reported on each report?
 
Any baddies on your reports?
Credit Profile -
FICO 08 Scores (08-22-2014): EQ 820, EX 817, TU 815
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

New Member
Sasha
Posts: 15
Registered: ‎05-24-2007
0

Re: Should I Cancel paid off credit cards?

That's very true....I only wish I knew then what I know now....
 
BTW you did not tell me what would happen if the "new" bank offers me a big Fat credit card..LOL  I'm kidding but having a new credit card would it affect my score?
New Member
Sasha
Posts: 15
Registered: ‎05-24-2007
0

Re: Should I Cancel paid off credit cards?

Nothing bad on my report...except from last year...I have 2 late payments...ouch!
My score is 703....I have a car loan of 540/month
On credit card of 500(that's my Bank)
another one of 250(that's the card with the 2 late payments)
 
that's about it
 
So the "new " bank would offer me a credit card of 15 000
Not that  need it but it make me feel that this bank trust me more....
 
 
New Member
Sasha
Posts: 15
Registered: ‎05-24-2007
0

Re: Should I Cancel paid off credit cards?

Sorry about that i did not give you time to response.....:smileysad:
 
Sorry to say that you completely lost me...with your response...i'm totally lost
It's not a suprise that i hated math....history was more my field.. LOL
Moderator Emeritus
fused
Posts: 16,355
Registered: ‎03-12-2007
0

Re: Should I Cancel paid off credit cards?



Sasha wrote:
Nothing bad on my report...except from last year...I have 2 late payments...ouch!
My score is 703....I have a car loan of 540/month
On credit card of 500(that's my Bank)
another one of 250(that's the card with the 2 late payments)
 
that's about it
 
So the "new " bank would offer me a credit card of 15 000
Not that  need it but it make me feel that this bank trust me more....
 
 


are all of your scores around 703?  This cc you want which bank is it?
Credit Profile -
FICO 08 Scores (08-22-2014): EQ 820, EX 817, TU 815
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

New Member
Sasha
Posts: 15
Registered: ‎05-24-2007
0

Re: Should I Cancel paid off credit cards?

USAA...you know through the military?
Is that a problem?

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