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Effects of closing 2 new TL

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Anonymous
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Effects of closing 2 new TL

What are the effects of closing Two TL that I Just foolishly opened have on my Fico score? I'm guessing that the initial addition of them will harm AAoA for awhile.

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Effects of closing 2 new TL

Whatever damage caused to your score when they start reporting is probably already the extent of it.  

 

However, if the TLs increased your available credit significantly and therefore lowered your overall util, that will help your score and closing them will in turn bring your score back down.  

 

But if that's not a factor (i.e. your overall util was < 9% before the TLs were open) then closing them should theoretically report no change in your score. 

Message 2 of 4
Anonymous
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Re: Effects of closing 2 new TL

My score Ex 738>725 after these reported. I was appr'd for NFCU CashRewards~15k & NavyCheck~15k. These TLs have not been reported yet & no inquiries since 738 score.

Message 3 of 4
Anonymous
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Re: Effects of closing 2 new TL

I see no reason whatsoever why you'd want to close these lines. Those are 2 sought after products from a lot of people here. You'll get the points back in 6 months and your overall credit profile will be stronger because of it.

Message 4 of 4
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