3 credit score Knoxville

Another reason that closing cards can be a bad idea is that youre lowering the amount of credit available to you (total of your credit 3 credit score Knoxville limits) and depending on the amount of debt you continue to carry, this can look like youre overextending yourself.

It can be a bit confusing, but it has to do the amounts owed portion of your score, which accounts for roughly 30%. I just wrote a blog entry about this if youre looking for more info: http://tinyurl.com/4p6slg Hey Ryan I cant second this enough. The only thing 3 credit score Knoxville that she is consistently dinged on is length of credit history and she has 5 years of it.

Considering she is 25, thats not that short a history, but short enough to where closing any of her long running accounts could absolutely hurt her credit badly. You might need to check not only your credit score, but your credit report as well. I applied for a credit card once, never got it ( someone might have checked my mail for me, if you know what I am saying), then called the company and thought I had cancelled it. credit report watch

I checked my credit report one year later and I did see the credit card. I recently had one of my longtime cards closed by the store (Sears) because of 3 credit score Knoxville lack of use, I hadnt used it in over 10 years. So this is going to hurt a score that isnt great right now to begin with because it is a long account as well as lowering the available credit.

Lowering your available credit can be a good thing if you have too much credit available, but it can also be bad if you have outstanding debt because it raises your utilization rate.

Ideally you want zero%, but a rate 3 credit score Knoxville of 30% or lower isnt too bad. get a credit report Canceling a 10 year old line of credit can hurt a little, especially if your other lines of credit 3 credit score Knoxville are relatively new. The average age of credit is taken into account in the FICO scores. Keep plugging away and your scores will continue to rise. when i learned about the credit history thing, i started not to close my unused credit cards, i just hope that this 3 credit score Knoxville do good to me Too much available credit can be a bad thing? As in, the more available, the more it shows youre responsible and not running up debt. I live in Canada, but I imagine the same thing would apply here. Would you mind telling how much it dropped your score, if 3 credit score Knoxville you know? Ive got a card Im not using that Ive been thinking about closing, but Id love to be able to estimate how much its going to hurt me. Richard, I dont know exactly how much more score dropped, but average length of credit history accounts for 15% of your score. getting free credit reports Since 3 credit score Knoxville this was my longest tenured card, it substantially dropped the average age of my credit. As for how much it will drop your score, I have no idea.

For older cards, many 3 credit score Knoxville people recommend just dropping the limit as low as you can and keeping the card open.