@ptx wrote:Have 3 regular credit cards with 1 reporting and a Lowes account that was closed/credit grantor's decision that was reporting a balance of 1800. I paid off the balance to zero on the Lowes Account and got a drop of 8 points notification stating "retail trade account balance decrease to zero". Couple of questions is a closed account still reporting a balance treated like an open account? Would adding a retail account like a Home Depot, etc. help since I only have conventional credit cards (discover, visa, mc). I guess my question is did my score drop due to "retail mix", utilization, both, or somethine else? and would adding an account offset it or could i see an additional drop due to "account age".
Thanks in advance for any help.
Its possible you lost the points for not having any other "retail" cards. I would not run out and get one just for Fico reasons at this point as you will likely lose some points for the inquiry, new account and hit to AAoA.
I've never seen a retail tradeline in any postive reason code FWIW.
I don't buy that update and I'm assuming it was Transunion specific based on the verbiage. Could be wrong but there's never been any evidence that store cards count positively and seperately for mix of credit.
