Closed CC Accounts!!

[solid07]

I had two First Premier CC's and I got tired of them and closed them, when I closed them one was 11 months old and the other 6 months old, I never paid late, but my question is are these two closed accounts hurting my overall credt rating/score, In other words if they were not on my reports would my scores be higher!!!

[phumanr]

I would say that it really depends on what your total credit limits are. About 35% of your credit score is debt to credit limit ratio, so if these two cards were a big part of your total credit limits, then they may hurt your score some; however, this card is predatory with fees, so it was probably in your best interest to close these cards and get other cards with no fees. You can go to www.whogavemecredit.com and see which cards you be approved for based on your scores.

Phumanr

[Anonymous]

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solid07 wrote:

I had two First Premier CC's and I got tired of them and closed them, when I closed them one was 11 months old and the other 6 months old, I never paid late, but my question is are these two closed accounts hurting my overall credt rating/score, In other words if they were not on my reports would my scores be higher!!!

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http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=30100