Question about combining cards and effects

Anonymous — Thu, 04 Feb 2016 16:10:24 GMT

I paid down the balance on my Cap1 cards that were 70% of available limit. Then combined 2 cards to a QS1, so the limit is now 5750 with $800 balance. Then Barclays I paid off the $1000 balance on my $1500 Apple card and moved it over to my rewards card that now has a 2000 limit and no balance. Do you think that it will help my score because the utilization will go down, or hurt it due to closing 3 accounts. They were all about 16 months old and not my oldest cards, but I need to consolidate and close some things. Next on the chopping block will be Applied Bank and Credit1 which are my oldest accounts, but paying all their fees is just rediculous at this point so Ill take the hit if I have too.

Re: Question about combining cards and effects

OmarGB9 — Thu, 04 Feb 2016 17:44:38 GMT

Lower UTIL will help. Closing accounts would have none effect right now because those closed accounts will remain on your report for 10 years.

topic Question about combining cards and effects in Understanding FICO® Scoring

Question about combining cards and effects

Re: Question about combining cards and effects