When I got that stupid "you're going to 29.99%" letter, I called and closed it. It was my oldest positive CC, but not my overall oldest account. It would have been 2 years old in August. I just pulled an EQU and nothing else has changed and my score went up 38 points!!!!! Now this kills my Debt to Income, but I truly believe CR's can somehow decipher prime and sub prime cards...lol.
Did they report your zero balance right away? I am counting on that to boost my scores (paid them off today but didn't close the account). I'm afraid to close the account because I combined all of my Cap One cards so those account are all going to show closed soon. I don't know what to do! But congrats on the score increase. That's quite a jump! L
L- Actually I had a $27 charge, and it got refunded after the close date (long story). So it shows closed with a $27 balance. I wouldn't worry about closing them, especially with your reports being clean now. My father got the "too much available credit" reason code the first time he pulled his report, he closed 6 cards all on the same day and his score went up a few points. The only difference is he has 30 years of credit history.
KHM, That's crazy to have gained that many points!! Good credit can be worse than a Collection. Something is terribly wrong with the scoring system. Charlie
