No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Snakeophelia wrote:
Last year I closed a long-standing BOA MC that still had a balance on it. Obviously, I was not well-informed about the impact this would have and had not yet been reading the forums here! Anyway, the damage from closing the account was done and my FICO has been steadily increasing since then. As of this week, that account will be paid in full. Can I expect any boost to my score from that account going to zero, even though it's been closed for a year?
sidewinder wrote:
Snakeophelia wrote:Last year I closed a long-standing BOA MC that still had a balance on it. Obviously, I was not well-informed about the impact this would have and had not yet been reading the forums here! Anyway, the damage from closing the account was done and my FICO has been steadily increasing since then. As of this week, that account will be paid in full. Can I expect any boost to my score from that account going to zero, even though it's been closed for a year?You may or may not.What other revolving accounts do you have and what is your util on them?Closed accounts, with a balance, that are reported by the OC are normally included in util. When the closed account reaches a 0 balance, it is no longer included in util, no part of it-- including CL.Figure your util with this account as it is now and without this account at all.