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Okay I have a Best Buy Credit Card (Store Only) with a Credit limit of $500. Ive had it for 4 years and never got a CLI, However I recently called and the account type i have is a fixed rate so it wont be able to increase.
my question is, will it hurt my credit score if i closed this account down and reopen a Best Buy credit card with a different account type?
I have couple other credit cards with CL's between 3,000 - 5,000
Does it have an AF? Im assuming that 4 years from when you first obtained BB card your credit has improved getting you approved for CL in $3k-$5k. If closed it will still report to the CBsfor 10 years and the only thing affected will be your UTL which wouldnt be much since you have higher CLs reporting and you BB is only $500, if you shop there alot and could take advatange on the special fianancing then yes close the card and re-apply. FYI BB is now issued by Citi Bank
Oh yeah welcome to the forums!!!!!!
@BearsAndTurtlesRtheBest wrote:Does it have an AF? Im assuming that 4 years from when you first obtained BB card your credit has improved getting you approved for CL in $3k-$5k. If closed it will still report to the CBsfor 10 years and the only thing affected will be your UTL which wouldnt be much since you have higher CLs reporting and you BB is only $500, if you shop there alot and could take advatange on the special fianancing then yes close the card and re-apply. FYI BB is now issued by Citi Bank
Thank you so much for replying.
I am new here and I dont know what AF or UTL stands for? :/
but it doesnt have a balance, i saw a thread a little below about it switching to Citi bank, i should of kept reading before posting, but thanks and thanks for welcoming me
UTL mean utilization, and AF means annual fee, keep us posted if you do apply for a new BB acct. Good luck!!