I posted this in http://ficoforums.myfico.com/t5/Credit-Cards/NFCU-Restriction-Security-Department/m-p/3746441/highli...
But i thought it deserved its own thread
"I hope all the scoring models use this
If anyone has any insight please chime in
http://www.foxbusiness.com/personal-finance/2011/06/07/canceling-card-with-balance-doesnt-have-to-hu...
"When you close a credit card account, the impact on your credit score may not be felt right away, according to FICO. That's because the account's credit utilization ratio -- a comparison of its balance to credit limit -- will continue to be factored into the calculation of your FICO score as long as the card's balance remains. Once the balance reaches zero, FICO will no longer include that account's credit limit in the calculation of your total credit utilization.""
This is only true if the bank still reports the CL and some of them dont so it would be a balance hitting from your new credit available minus that cards CL.
