topic Re: Closing Credt Card Accounts - still count toward ulit? in Credit Cards

Closing Credt Card Accounts - still count toward ulit?

Gotagoal — Tue, 02 Oct 2007 03:52:21 GMT

Will closing 2 small credit cards still count toward my overall utilization? I mean will the limits still be included in my total available credit or will that change once I close them? They are small and now I have better cards. Just curious.

Re: Closing Credt Card Accounts - still count toward ulit?

Anonymous — Tue, 02 Oct 2007 03:55:25 GMT

it lowers your available credit, thus increasing utilization.

Message Edited by dnm45227 on 10-01-2007 11:55 PM

Re: Closing Credt Card Accounts - still count toward ulit?

fused — Tue, 02 Oct 2007 03:59:26 GMT

Gotagoal wrote:
Will closing 2 small credit cards still count toward my overall utilization? I mean will the limits still be included in my total available credit or will that change once I close them? They are small and now I have better cards. Just curious.

Closed CC's with balances do factor in util% calculations while ones with zero balances do not. For more info read the link in my sig line.

Re: Closing Credt Card Accounts - still count toward ulit?

Gotagoal — Tue, 02 Oct 2007 04:05:41 GMT

Thanks to you both. I totally understand. It's a very small amount, so it won't make a difference and finally I'll have no fees once I close them. All of my other cards are awesome - so it's time to close these 2 small ones. They were rebuilders and now they've served their purpose. Woo hoo!

Re: Closing Credt Card Accounts - still count toward ulit?

Anonymous — Tue, 02 Oct 2007 04:08:29 GMT

glad to hear that your able to take the training wheels off!

Re: Closing Credt Card Accounts - still count toward ulit?

Anonymous — Tue, 02 Oct 2007 04:09:30 GMT

dnm45227 wrote:
glad to hear that your able to take the training wheels off!

seriously wasn't trying to be sarcastic, just re-read that and saw it could be taken wrong. my apologies.

Re: Closing Credt Card Accounts - still count toward ulit?

Gotagoal — Tue, 02 Oct 2007 04:32:37 GMT

Nooo worries! I thought it was funny! Graduating to the normal prime cards feels JUST like taking the training wheels off. Crazy that I was ever in the situation to re-learn credit in the first place! No worries. I love your post, especially your input on my lasik (care credit) thred. I can see! I can see! hhaha

Re: Closing Credt Card Accounts - still count toward ulit?

Anonymous — Tue, 02 Oct 2007 04:37:11 GMT

glad i didn't offend (obviously you haven't met me in person), nice to see people here can trade jabs. makes it a cool place to hang out durring commercials.