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Closing Account Negative Effect On Score..?

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Andy77
Valued Contributor

Closing Account Negative Effect On Score..?

So, I had my first premier card for about 4 yrs and I paid the bal to zero and closed it.
Is closing this account going to make my scores drop or could they possibly go up.
 
Currently I do not have any revolving debt and 14100 in credit available, excluding the 1000 from the first premere card I closed...
 
 
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Anonymous
Not applicable

Re: Closing Account Negative Effect On Score..?

Since you have no revolving debt my guess would be no there wouldn't be a negative affect. 
Message 2 of 3
Anonymous
Not applicable

Re: Closing Account Negative Effect On Score..?



@Andy77 wrote:
So, I had my first premier card for about 4 yrs and I paid the bal to zero and closed it.
Is closing this account going to make my scores drop or could they possibly go up.
Currently I do not have any revolving debt and 14100 in credit available, excluding the 1000 from the first premere card I closed...





Andy, if you have no revolving debt, and close one of your cc's, then you will see a slight score drop as you have lost the benefit of the utilization factor on that card. But your scores should rebound in the next 3-6 months as your remaining cc's gain additional history on them
Message 3 of 3
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