@Anonymous wrote:I have a revolving card that I have not been using in an effort to work my way to AZEO. Today I was notified by the store that if I don't use the card it will be closed. If that card is closed by the store, will it negatively impact my FICO scores. Also, I recentlty sold my house and next month that payoff of my mortgage should be reported. I have not purchased another home. Any impact there? Thanks in advance.
You can use the card. Just pay it off before the balance reports.
@Anonymous wrote:I have a revolving card that I have not been using in an effort to work my way to AZEO. Today I was notified by the store that if I don't use the card it will be closed. If that card is closed by the store, will it negatively impact my FICO scores. Also, I recentlty sold my house and next month that payoff of my mortgage should be reported. I have not purchased another home. Any impact there? Thanks in advance.
The answer to both questions (like everything in life) is "it depends":
1. if the losing of the CL of the store card in question would cause your utilization to cross a boundary, then it could have an impact.
2. If the mortgage was your only installment loan (no car loan or unsecured loan) then you might take a hit for credit mix.
If neither of those situations is true, you should be ok.
