Closing a credit card with a balance

[Anonymous]

I thought we all three answered it, it would be FICO suicide to do that!

BUT, if someone was hardheaded and unwise enough to do it anyway and not listen to the advice then, yes, of course the payments would be reported. They are required by law to report accurate payment history. Meanwhile he will suffer.

For OPs own good, I hope he listens to the advice.

[FireMedic1]

Thanks @Anonymous  No one answered this part until now. "If I close a credit card with a balance and continue to make payments, will the company then continue to report a payment history even though it’s closed since I am making payments?"

[Anonymous]

But even though he continues to make payments, the close date is not going to change. And it’s still going to fall off, or at least is scheduled and supposed to fall off, at 10 years from that date of closing, assuming it has no delinquencies.

The extended payment history would not extend the time the account would remain on the credit report. The close date would still be the close date and the fall off date would still be calculated from that. So really there would be no advantage whatsoever, only disadvantage.

As a matter fact, the only way I could even possibly theorize that it could possibly contribute would be if his credit history were so short that he didn’t even have a FICO score yet. But even if that were the case, he would still be better served by leaving it open, so he didn’t suffer in the meanwhile even though I guess he wouldn’t suffer for the time that he wouldn’t have a score anyway. But when the score did pop up he would suffer unless it was paid off.