I had 2 accounts with Merrick Bank. One was a plain account and the other the Hooter's Master Card. They closed both of them saying that I had too many newly opened accounts. Actually I haven't opened any accounts but if they don't want my money i have plenty of other people that do, My question is one of those accounts had a balance that I am unable to pay off before it reports as closed. How will being closed with balance affect my credit score?
I used to think otherwise until someone corrected me, but I believe that if your account is reported as closed but with a balance, its individual util will still be scored the same as it would be if the TL is open.
I'm sorry that happened to you. DW also has the Merrick CC and recently opened 3 new CCs to replace some her rebuilder cards. Now if they cancel the card we won't cry about it. I don't think her $750 CL will advance too far.
