I have a queston. I am paying in full a CC account and closing it. is that good for my credit? That is not the only credid on my report of course. But I don't want to use that particular card ever again. 'thanks, Maria
Closing a CC account increases your debt to available credit ratio, which decreases your FICO score. If you are planning on opening a new account, you might be better off doing that before closing an old one. Whether any of this actually matters depends on whether your scores will still be high after closing this account. How much debt are you carrying, how much available revolving (CC) credit do you have available, and how old are your various accounts, and are they all reporting positively? These are what will affect FICO, and your ability to get good terms on any new account.
