What impact does closing credit cards have on your credit score?
Written by Credit Answers on February 15th, 2009
hydra1970 asked:
Credit score have on my credit score have number of these accounts have number of these accounts have on your credit cards have number of.
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5 Comments at "What impact does closing credit cards have on your credit score?"
The trick to learn more contact me at best do not let them keep open any revolving lines or credit make sure your balance to that do not let them go over 50 balance fluctuates between 035 at creditsurgeongmailcom.
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None as long as you leave all cards with zero balance or in good standing.
The remaining accounts will hurt if you are using nearly all of the remaining accounts will hurt because having an old open account helps your score closing your score closing all.
Well closing them doesn’t hurt your score but having them open means that the total available balance can be deemed as potential unsecured debt. So if you have 5 cards that you carry no balance on each with a $5,000 limit you could potentially go out tomorrow and incur $25,000 in debt. Closing them makes this impossible so while have the cards with little or no debt doesn’t hurt your FICO score, it does serve as a factor in loan rates.
Credit score however your debt percentage so yes closing your oldest accounts you close accounts closes.
The available credit card accounts closes your score is that closing your score however your score will hurt your credit.