topic Re: Good question for credit gurus about my strategy in Credit Cards

Good question for credit gurus about my strategy

zerobacan — Thu, 16 May 2013 23:07:46 GMT

I have a Capital One card since 2006 which makes it my oldest acc with a 750 CL now about to sit in a 0 balance.

this is my only TL that has baddies on it 2-30 days and 1- 60days late, from Sept, Oct, Nov 2011

Will closing this account make my CR look better in a MANUAL REVIEW?

as a closed by me, bad acc with a 0 balance?

or it will not matter at all?

I dont mind the AAoA as I know it will be in my CR for 10 years.

and it will not hurt utilization at all

Thanks

Re: Good question for credit gurus about my strategy

DaveSignal — Thu, 16 May 2013 22:19:47 GMT

If you are asking them to delete, its not 100% that you will keep your AAoA, they could just delete the account.

So I guess it depends on how many other accounts you have and whether you have worse status on any other accounts. If you have other accounts and this is the worst, then absolutely try gw. good luck.

Re: Good question for credit gurus about my strategy

Anonymous — Thu, 16 May 2013 22:40:02 GMT

Its pointless because the baddies will just go away in 2018 regardless of whether or not you close the account or not. So just keep it open and let that bad boy continue to age. BTW if you did close it you would keep your AAOA, because close and open accounts age the same atleast until the closed account falls off after ten years.

Re: Good question for credit gurus about my strategy

zerobacan — Thu, 16 May 2013 23:06:47 GMT

I ve should worded my questions better.

will it look better in a manual review to show as open or closed by me

Thanks

Re: Good question for credit gurus about my strategy

Anonymous — Thu, 16 May 2013 23:11:39 GMT

Whether its closed or not on manual review the derogs will still be seen. Closing it is up to you but if you are asking if somehow the effect is lessened cause its closed, the answer is no.

Re: Good question for credit gurus about my strategy

simi_go — Thu, 16 May 2013 23:12:53 GMT

They are going to see the latest either way unless you close the account and request that it be deleted. If it gets deleted your AAoA takes a hit. If you close it and don't delete then it would be the same as leaving it open and waiting for the lates to age. Personally I would leave it open and GW the heck out of them until they get the message and remove the lates. Or close the account and request it be deleted.

Re: Good question for credit gurus about my strategy

simi_go — Thu, 16 May 2013 23:13:45 GMT

But by the way getting it deleted won't be an easy task most likely.

Re: Good question for credit gurus about my strategy

zerobacan — Thu, 16 May 2013 23:14:25 GMT

@Anonymous wrote:
Whether its closed or not on manual review the derogs will still be seen. Closing it is up to you but if you are asking if somehow the effect is lessened cause its closed, the answer is no.

Thanks Lexie....Im trying to keep my self busy in my second week of gardening....

Re: Good question for credit gurus about my strategy

Anonymous — Thu, 16 May 2013 23:16:43 GMT

I understand. Is it time for GE luv?

Re: Good question for credit gurus about my strategy

zerobacan — Thu, 16 May 2013 23:19:06 GMT

I GW like 3 times, till they said, no no no...I never thought of closing it and ask for it to be deleted... it will probably wont work either...

My thought was based in that closed acc show in the botton of my CR... maybe an underwriter will miss it as instead of being in the top ALL THE TIME!

Re: Good question for credit gurus about my strategy

Anonymous — Fri, 17 May 2013 00:13:06 GMT

A negative account will remain at the top of your report, open or closed

Re: Good question for credit gurus about my strategy

FinStar — Fri, 17 May 2013 04:44:23 GMT

@Anonymous wrote:
A negative account will remain at the top of your report, open or closed