@laryn41 wrote:I have had my Childrens place card for a while now... I really love it. I have a lways been in good standing. with school coming around I figured I should get a CLI. They turned me down. I can't believe it. Before then they gave me a increase on my available (but not my limit) Now they are paid in full and took that a way too. I don't understand they pulled equifax and said the reasons ar as followed:
-Too few accts open in the last 8 mths
-Oldest bank revolve acct not open ling enough
-Credit Utilization rate/Bank (what does that mean?)
-Number of derog accts, public records, or collections. (there's only 1 that I know of and it was from years ago and they just now sent me a new statement. I am aready trying to take care of that)
I just really want to get my credit score up. Should I close this account?
Utilization rate/Bank your using to much of available credit if your using more than %35 of what you have access to(credit cards and other non installment credit) get down to individual accounts under 10% of their credit line and not more than 35% collectively(again non install accounts, auto loans personal loans, are installments) don't close it unless it has an annual fee, if you close it, you lose the credit line decreasing your available credit and increasing your utilization.
Message Edited by rbbyrbsn on
08-02-2007 02:18 PM
