When do I close my sub-prime cc's?

[Anonymous]

---

Phouchg wrote:

---

cheddar wrote:

You will, however, see an immediate revolving utilization effect, since a the card's CL will be removed from utilization calculations as soon as the card is reported closed.

---

What if you close a card with a balance...is that taken out of the util calculation??

---

No, in that case it's not removed immediately.  It remains until the CL is reported as $0 or the balance is PIF.

[ferferhess]

bump

[ferferhess]

O.K., maybe I need to clarify.....I have 3 subprime CC's. I want 3-4 prime CC's to replace them with. If I were to close the 3 subprime cards right after I open the prime cards, will my scores plummet? If this is the case, how long should I wait before closimg them?

[Anonymous]

The only way your score would "plummet" is if your utilization increases.

Close them when you are ready -

---

ferferhess wrote:
O.K., maybe I need to clarify.....I have 3 subprime CC's. I want 3-4 prime CC's to replace them with. If I were to close the 3 subprime cards right after I open the prime cards, will my scores plummet? If this is the case, how long should I wait before closimg them?

---

[ferferhess]

Thanks Timothy!! I've gotten so confused with all of this reading I've been doing and now that my scores are at their best, I'm scared to take a misstep!