(Closed) Credit score & closing accounts

posted 9 years ago in Money
Post # 18
Member
14090 posts
Honey Beekeeper
  • Wedding: November 1999

I was told by a mortgage broker not to open or close any accounts when trying to buy a house, because each of these will ding your credit score a bit. 

Post # 19
Member
456 posts
Helper bee
  • Wedding: May 2012

if you don’t want to keep paying the fee for the one credit card, I would recommend calling and trying to “cancel” it.  in my experience, if you try to cancel the card and say it’s because of the fee that they’ll usually waive the fee to keep you on as a customer. 

Post # 20
Member
5667 posts
Bee Keeper

It will hurt your score because it will lower your available credit even if you don’t currently have debt. Lenders like to see that other lenders trust you with credit. Don’t do anything right now.

As far as the inquiries you have right now, dispute, dispute, dispute. They might come off if the companies don’t confirm them and your score could go up. I also agree with pulling your real report to confirm the student loan. If it’s reporting incorrectly on your real report get that corrected.

Post # 22
Member
666 posts
Busy bee
  • Wedding: August 2013

You might be able to convert the fee card to a no-fee card.  You wouldn’t get the airline miles or whatever, but you could keep it open for free and not have to close it.  To convert the account you’d just call them and ask them. 

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