Utilization

[Anonymous]

I have a CITI furniture card with 3k limit. Got opened in Nov 08 so its coming due a year pretty soon. On my Credit Report it reported July 09 as current. I havent used it in months and dont plan to use it again. The way things are going CITI has been closing a lot of cards and i would rather me close it before they close it that way it doesnt say closed by merchant.

Now i know if i close it thats 3k less i have toward my util. and my scrore will drop. When i get my util back to where it needs to be and ideally 9%. Will my score be lower than would it would have been if i would have kept it open and been and 9% util or will it not make a diff. score wise if i were to close it or not as long as i use 9% of the overall credit limit like before?

I hope this makes sense. It does in my head lol if you have any problems understanding just let me know i will try and explain it better. Thanks.

[Anonymous]

bump

[haulingthescoreup]

We need some exact figures.

Can you post your current balances and CL's? You can name the cards, or just call them card A, card B, etc. You don't need to post APR's unless you want a lot of free advice on the optimal order in which to pay them down, lol.

So, something like:

Card A $290 / $3,000
Card B $0 / $500

etc.

Include the card that you're thinking of closing.

Your scores might or might not be affecting by losing the CL. It all depends on how much your total util changes, and whether that change crosses from one "tier" into another (for instance, from 9% to 14% might drop your score, but 14% to 19% might not.)