Credit- Close yourself or have it closed by Grantor

[Anonymous]

I have a few credit cards and loans that I have paid off. I would like to just close them, but I also know it's good to keep them open if they have good credit history etc. But I have had some closed by Grantor due to inactivity. How long does it take before this happens? And does that affect my score if they close it?

[Anonymous]

technically correct, though me personally decided not to keep more credit than I can make practical make use of, for me it's three cards: two rewards cards. one "pet" card(ie Amex or Discover, Discover for me) and a backup visa/master card. and last a low fix rate visa/mastercard card to revolve on not more than six month's any more than that and your just burning money Right I have Chase amazon visa and Cap1 visa, hoping to get a Discover More and a simonsfirst(just wish it was a mastercard) I'm buying scores and applying on the 26th If I get both cards I'll dump crap 1 and they won't even put up a fight, they'll be happy to see my subprime(at least they think so) butt go.

Message Edited by rbbyrbsn on 08-02-2007 01:48 PM

[Tuscani]

Welcome.. Please read the Scoring 101 thread:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

The time it takes depends on the CCC. Regardless, the closed by credit grantor notation has no impact on your scores.