Dell

[Anonymous]

Hi all! I'm pretty new to the forum but I've learned a lot already.

I have a Dell account through CitiBank/DFS I assume the DFS stands for Dell Financial Services. It says on my credit report that this is a charge account.

I have it completely paid off with a zero balance. Would it be better for my credit if I closed the account since it is a Finance account or should I leave it there to keep the line of credit there?

I've had it for almost two years. And my credit history isn't older than 4 years. Thanks!

Message Edited by ladedahme on 03-01-2008 09:45 PM

[Anonymous]

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ladedahme wrote:
Hi all! I'm pretty new to the forum but I've learned a lot already. I have a Dell account through CitiBank/DFS I assume the DFS stands for Dell Financial Services. It says on my credit report that this is a charge account. I have it completely paid off will a zero balance. Would it be better for my credit if I closed the account since it is a Finance account or should I leave it there to keep the line of credit there? I've had it for almost two years. My credit history in general isn't older than 4 years. Thanks!

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Is this a revolving account or installment?  If it is revolving, you are not being dinged for having a consumer finance loan, since that only applies to certain installment loans.

In any case, the answer to your question is kind of moot.  Even if you close the account it will remain on your report for another 10 years, so there's not much you could do about it at this point even if it were a CFL.

[Anonymous]

This is a revolving account with no AF-

Leave it alone - it is not hurting anything-

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cheddar wrote:

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ladedahme wrote:
Hi all! I'm pretty new to the forum but I've learned a lot already. I have a Dell account through CitiBank/DFS I assume the DFS stands for Dell Financial Services. It says on my credit report that this is a charge account. I have it completely paid off will a zero balance. Would it be better for my credit if I closed the account since it is a Finance account or should I leave it there to keep the line of credit there? I've had it for almost two years. My credit history in general isn't older than 4 years. Thanks!

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Is this a revolving account or installment?  If it is revolving, you are not being dinged for having a consumer finance loan, since that only applies to certain installment loans.

In any case, the answer to your question is kind of moot.  Even if you close the account it will remain on your report for another 10 years, so there's not much you could do about it at this point even if it were a CFL.

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[Anonymous]

Yes it is definitely a revolving account. Thank you very much. I'm glad I didn't end up closing it then.

[Anonymous]

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cheddar wrote:

Is this a revolving account or installment?  If it is revolving, you are not being dinged for having a consumer finance loan, since that only applies to certain installment loans.

In any case, the answer to your question is kind of moot.  Even if you close the account it will remain on your report for another 10 years, so there's not much you could do about it at this point even if it were a CFL.

Wow, did not know that.  All this talk in other threads about CFL's and this point has never been mentioined.

[Anonymous]

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krystofur wrote:

Wow, did not know that.  All this talk in other threads about CFL's and this point has never been mentioined.

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'Tis true.  There is no such thing as a revolving CFL.