Great Morning My Fico Fam
I just got off the Phone with the CSR from Total Visa, and Told him that I will be closing my account today, he ask why? and I said I need to start trimming down "Credit Cards", and he said I can see you have paid in full, so we can get that tooking care of for you. it was simple and easy, I am very thankful that they did help me establish my credit again but it's time to move on. So now I will be looking for a CC to replace that card, My wish List is: 1. Cap 1 Savor 1. 2. Chase Amazon rewards Visa 3. Amex Cash Magnet
7 CC is my Max, it works for me, now since Total Visa is closed I have 6 CC. What to do? What to do? I commited myself to not App for any CC until Jan 2019. I am so ready to App for the Cap 1 Savor 1. My scores has increased since my credit building Journey began last September. Current Fico 8 scores are : Trans: 706 Equi: 706 Ex: 650
Yes you are right!! Take this time and crunch the numbers so that I can make an Informative descision on my next CC
Congrats on your credit journey and for being in a place that you can move on from this card. Good luck in obtaining your goal cards!
I had the Card for 1 year and only got a CLI of only $50 
but all in all they help me get my credit going in the right direction and for that I am truly grateful. but Now it's time to move on
@Anonymous wrote:I have one of those also that I want to close but since closing an account hurts our fico score I am thinkiing about it. Let me know if you don't mind if closing it had an affect on your score. I am not sure how soon you will see it reported as closed but I am curious to see how many points go down if any.
Thanks
Hopefully it does'nt hurt to much, The CL was only $350 and I had it for 1 full year PIF almost every month, they only gave me 1 CLI of $50. I hope it does'nt affect me too much. Is there anyone on this forum that can shed light on Closing accounts? Please and Thanks
@The-Credit-Disciple wrote:
@Anonymous wrote:I have one of those also that I want to close but since closing an account hurts our fico score I am thinkiing about it. Let me know if you don't mind if closing it had an affect on your score. I am not sure how soon you will see it reported as closed but I am curious to see how many points go down if any.
Thanks
Hopefully it does'nt hurt to much, The CL was only $350 and I had it for 1 full year PIF almost every month, they only gave me 1 CLI of $50. I hope it does'nt affect me too much. Is there anyone on this forum that can shed light on Closing accounts? Please and Thanks
It shouldn't hurt at all, closed credit accounts remain on your credit report for at least 10 years** with all the credit limit, usage & payment history. So closing an account doesn't affect your Average Age of Accounts (AAoA), the only harm would be from increasing your utilization % with the loss of the credit limit, but a $350 CL shouldn't affect that.
** For some reason I still have a closed Synchrony electronics store card reporting on my credit report that was closed in 2004, helping my AAoA.