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@frio wrote:I guess my next question is once I PIF and close out the those cc's what should I expect to happen to my Score ??
I dont want it to negatively impact the score
Thinking of paying off FP today
@frio wrote:
@frio wrote:I guess my next question is once I PIF and close out the those cc's what should I expect to happen to my Score ??
I dont want it to negatively impact the score
Thinking of paying off FP today
Good! Once you PIF on FP, your total util will go down from 37.54 %
CC Issuer | Date Opened | CL | APR | AF (if any) | Balance |
First Premier | 02/ 2010 | $450 | 9.9% | $48.00 | $200.00 |
First Premier | 11/ 2008 | $350 | 20.15% | $48.00 | $120.00 |
Orchard | 05 / 2010 | $350 | 14.90% | $79.00 | $200.00 |
NFCU | 04 / 2011 | $6000 | 15.0% | none | $2164.00 |
... to 33.06% and positive impact on your CR by having a balance on only 2 ccs out of 4 ccs.
CC Issuer | Date Opened | CL | APR | AF (if any) | Balance |
First Premier | 02/ 2010 | $450 | 9.9% | $48.00 | $0 |
First Premier | 11/ 2008 | $350 | 20.15% | $48.00 | $0 |
Orchard | 05 / 2010 | $350 | 14.90% | $79.00 | $200.00 |
NFCU | 04 / 2011 | $6000 | 15.0% | none | $2164.00 |
... then it will be 30.27% after PIF on Orchard and another positive impact (IMO) on your CR by having a balance on only 1 ccs out of 4 ccs.
CC Issuer | Date Opened | CL | APR | AF (if any) | Balance |
First Premier | 02/ 2010 | $450 | 9.9% | $48.00 | $0 |
First Premier | 11/ 2008 | $350 | 20.15% | $48.00 | $0 |
Orchard | 05 / 2010 | $350 | 14.90% | $79.00 | $0 |
NFCU | 04 / 2011 | $6000 | 15.0% | none | $2164.00 |
... if you can bring NFCU down to 2k, total util will be 28.97% and individual util will be 33.33%
Keep bringing down the balance on your NFCU to bring your score up. Your target balance on NFCU should be below $500.
CC Issuer | Date Opened | CL | APR | AF (if any) | Balance |
First Premier | 02/ 2010 | $450 | 9.9% | $48.00 | $0 |
First Premier | 11/ 2008 | $350 | 20.15% | $48.00 | $0 |
Orchard | 05 / 2010 | $350 | 14.90% | $79.00 | $0 |
NFCU | 04 / 2011 | $6000 | 15.0% | none | $2000 |
I can't imagine a score hit paying off and closing those cards. Then again I've seen stranger things from credit scores.
I can say though that the lower you get that NFCU card, the better in any case.
On the phone with Orchard Bank...1 year no late payments..payments always made 3-4 days prior to date due and still no CLI increase. Going to pay it off and close the account !!!
Remember...PAY THE NFCU DOWN if you want to get your score up. Closing those cards is only going to be a positive if you get NFCU paid down.
def. will bring that down asap. Decided to not close out the accounts but paid 2 out 4 off Zero balance. Its a start
@frio wrote:def. will bring that down asap. Decided to not close out the accounts but paid 2 out 4 off Zero balance. Its a start
Yeah, but you're wasting money paying annual fees unnecessarily. That's why the recommendation is to close them - don't pay fees you don't have to on cards you don't need.
I mean it's your choice, but I really don't recommend keeping those cards open.
@frio wrote:def. will bring that down asap. Decided to not close out the accounts but paid 2 out 4 off Zero balance. Its a start
Very Good! Why? Why you want to spend the $175/yr for those three ccs to just to keep it? I don't get it ~ may be you have some extra money to waste on it ~ well, what can we say. It's frios decision, not ours.
Try to bring down the balance on your NFCU to bring your score up. Your target balance on NFCU should be below $500.
CC Issuer | Date Opened | CL | APR | AF (if any) | Balance | Status |
First Premier | 02/ 2010 | $450 | 9.9% | $0 | $0 | CLOSE |
First Premier | 11/ 2008 | $350 | 20.15% | $0 | $0 | CLOSE |
Orchard | 05 / 2010 | $350 | 14.90% | $0 | $0 | CLOSE |
NFCU | 04 / 2011 | $6000 | 15.0% | none | <$500 | OPEN |