Matty,your score will probably drop since you closed those acc'ts. Plus,the score from CreditExpert isn't accurate with the CB"s FICO scores.
I checked the true FICO just yesterday. Right at 701. All the accounts I closed are reporting as closed.
Sorry Bkev, I'll have to take slight issue with this stance. First, I want to point out that it is a misconception that a minor cannot legally get a credit card. It is up to the policy of the CC itself. (Although we all know the ramifications of legal obligation, contracts, etc.) My youngest son is 16 and together we got him Cap1's high school teen credit card back in 5/2001. Our intent was to allow him to get the hang of credit and finances while he's still under our roof and not under heavy-duty pressure from "campus vultures". Sad to say, the topic of credit is virtually unheard of in high school, even in math, current events, sociology or civics classes. So with me as his co-signor and him as primary cardholder, he's learning under my (if I do say so myself) very world-weary and experienced watchful eye. He gets the bill in his own name, he pays the bill with his own money he earns, he keeps track of his charge slips and expenses. And ya know what, the "beauty" of it started to wear thin about 2 months ago for him and he hasn't charged a thin in the last 60 days. It's dawned on him, that you always have to pay it anyway and that at best, it's a very short-term loan. A convenience...nothing more. Hallelujah I'm around while he learns these valuable lessons. I feel I'm giving him the headstart that a lot of college freshman could use. He won't be the starry-eyed pumpkin who grabs 3 credit cards at registration just because they're giving away a t-shirt with them. And I hope he'll have the luxury of being able to focus on his college education, making lifelong friendships, getting to know himself and the world about him and building some pretty cool college experiences -- rather than being strapped with humongous credit card debt for party binging and leaving school bankrupt. Well, time to get down off my soap box now. But just one thing: Doesn't everyone think it's strange that the number one thing that destroys marriages (fighing over mishandled finances, money and debt), and many lives is so absent from our lower grade children's education?
