Closed card and Fico

[Anonymous]

That’d be great but the downer is this: I’m applying for conventional loan and with husband whose middle score is only 593. Lenders look at the borrower with lower middle score

[SouthJamaica]

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@Anonymouswrote:
I have a Merrick card that I closed two years ago. Limit was 1000$ and balance is about 740$. I’ve been making just the minimum payment each month of 41$. Since it’s closed does it still affect my Fico? Would paying it down increase my scores or does a closed card have no effect? I regret closing it because I pay in time each month but wonder if that even matters since I closed it. Would they do a hard inquiry if I asked them to reopen? I would like a new cc but am afraid to get another hard inquiry since I have so many already from past two years and I’m trying to get mortgage loan.

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1. Yes it is still affecting FICO scores.

2.  Yes paying it down will help your scores.

3.  They wouldn't reopen it; you would have to reapply, and yes there would be a hard pull.

4.  Yes you should refrain from any credit applications at this time, until after you've closed on the house.

[Anonymous]

Well then it sounds like your husband is the constraint here and that stressing over your credit report at this time probably isn't the best use of your efforts. May be focusing on your husband's credit profile over the next 6 months would be more meaningful?