Expired card not renewed. Acct closed

[Anonymous]

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@Anonymous

I encourage you to not use any credit cards until they are all paid to zero.

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Agreed.  They should all reside in a comfy spot in your SD until your revolving debt is gone.

[TeddyKG]

Thanks for this post. This just happened in the last two weeks. I will pull all reports this weekend and see. I never knew about paying at least $2 more than the minimum. I ALWAYS try to pay more than the minimum so I'm good...but why at least $2? Seem like a random number.

[Anonymous]

It doesn't have to be $2, you just want to show the lender(s) that you're not just paying the minimum.  Only paying the minimum is a red flag for most of their assessment programs.  If you pay more than the minimum, it makes you appear as less of a risk both under a manual review and under a non-human program review.

[Anonymous]

The $2 number on our part is guesswork.  I am not certain that 2 pennies over the MP would be sufficient at most CC issuers to be treated as "more than the MP" -- though perhaps it would be.  2 bucks seems fairly safe though.

[TeddyKG]

Just a quick update

My reports says the account was closed "as per your request"

[TeddyKG]

So I learned from you guys that uti is bad and will be recognized as 100% until bal is zero

They closed acct...is it better that it was reported I closed it? Worse? Irrelevant?
Thanks

[iv]

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@TeddyKG wrote:
They closed acct...is it better that it was reported I closed it? Worse? Irrelevant?

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Irrelevant for scoring.

[yapsalot]

TeddyKG, I sent you a private message.