Re: myFICO Insider's Guide to 2010 credit card reform and new FHA mortgage rules
02-21-2010 07:28 AM
Won't these new credit rules eventually result in lower scores for many? If banks jack up the rates and/or impose annual fees, many of us would close those accounts (either right away or after paying off the balance). And then we would lose credit history on those cards, which would affect our score, right? I wish they would require the CRA's to keep credit history of closed accounts to avoid this.
Am I seeing this right?