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Another question on a closed account

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Another question on a closed account

 
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fused
Moderator Emeritus

Re: Another question on a closed account

Scoring wise, you have to pay the closed BoA account and have it report a zero balance...closed accounts with balances hurt your scores and do factor in util% calculations. To minimize the hit to your scores USA bank would be better.
 
IMHO, saving money is more important! I would go the Amex route but be very careful. Amex hates card holders who revolve high balances. To avoid any problems with Amex make large timely payments.
Message 2 of 4
haulingthescoreup
Moderator Emerita

Re: Another question on a closed account

Large as in WAY over the minimum. Smiley Wink
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 3 of 4
fused
Moderator Emeritus

Re: Another question on a closed account



haulingthescoreup wrote:
Large as in WAY over the minimum. Smiley Wink


Well yeah! I have a Blue card with a 20K CL and about a $850 balance, with min at about $20. I usually pay $175 and have been fine with them. But I would be a little nervous about having a new Amex card and plopping 2.5K on a 3.5K CC, that's a new card with 71% util, ouch!
Message 4 of 4
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