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Closing Credit Cards and FICO

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Closing Credit Cards and FICO

If I close some of my accounts I am afraid I will not be able to get good CLs. Do you think it will hurt me that bad some accounts with no balances? I have no balances on any card except one. Thanks.

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Re: Closing Credit Cards and FICO


@MrCredit wrote:

If I close some of my accounts I am afraid I will not be able to get good CLs. Do you think it will hurt me that bad some accounts with no balances? I have no balances on any card except one. Thanks.


What cards do you have, how old are they, what is their current CL, and do they have an AF?

 

Edit: After looking at your signature, I don't see anything there that would really need to be closed.

 

If you do decide to close some of your cards, be aware that they will continue to report even after being closed, but will no longer be used in calculations that determine your overall utilization.

 

You can leave the accounts you don't plan on using often with a 0 balance, just remember to use the card once every few months to show activity. Buy something cheap like a coffee or some gum and then PIF.



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